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Law grad wins release of their pupil financial obligation in viewpoint criticizing ‘punitive criteria’

Friday, August 21st, 2020

Law grad wins release of their pupil financial obligation in viewpoint criticizing ‘punitive criteria’

With what has been referred to as a “stunning” choice, a bankruptcy judge has ruled that the 2004 graduate of Yeshiva University’s Cardozo Law class may erase a lot more than $220,000 in education loan financial obligation.

What the law states grad, 46-year-old Kevin Jared Rosenberg, represented himself. Their yearly earnings is less than $38,000, and their month-to-month earnings after costs operates at a deficit of approximately $1,500, in line with the Jan. 7 viewpoint by Chief U.S. Bankruptcy Judge Cecelia Morris associated with the Southern District of the latest York.

The Albany days Union, which noted the “stunning decision, ” plus the Wall Street Journal have protection.

Rosenberg’s student that is consolidated was at forbearance or deferment for ten years starting in April 2005. He made 10 re payments of varying quantities throughout the next 26 months.

Morris stated she had been using the Brunner that is so-called test release of pupil financial obligation since it ended up being originally meant. Considering that the test was made in a 1987 choice, instances interpreting it have lay out “punitive requirements” and dicta that is“retributive” she said. Those cases that are harsh become a quasi-standard of mythic proportions, to such an extent that many individuals (bankruptcy experts, along with lay people) think it impractical to discharge student education loans, ” she said. (more…)