Discussion 1: Student Loans Assignment (Up to 20 Points) A For quite a while the United...

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Discussion 1: Student Loans Assignment (Up to 20 Points) A For quite a while the United States Government has been collecting student loan debt from Social Security benefits of retirees because of a decision by the Supreme Court of the United States. The amount it can collect each month cannot be more than 15%. But with over 50% of retirees relying solely on Social Security for their income this has a tremendous impact. The Government does collect about one billion dollars doing this, but it is a mere pittance with the total student loan debt at over 1.7 Trillion dollars, more than current consumer debt. With student loan payment defaults at an all time high, this seriously affects the ability of educational institutions to admit new students who want to use them to finance their educational costs. And, as we have learned, student loans cannot be discharged in bankruptcy, except for very, very rare circumstances of undue hardship. To better understand this exception, I want you to prepare and post on the discussion board your case brief of Rosenberg v. N.Y.State Higher Education Services Corp., 610 B.R. 454 (Bankr/ S.D.N.Y. 2020, which can be found in Chapter 30: Bankruptcy of your textbook. And, if interested, the case in full can be found on the Internet, but this is not necessary. Use the case brief format as found in the course "Announcements." Also,, please provide a paragraph containing your personal comments as to whether you agree with the court's decision and as to what remedies you believe could be made to alleviate and/or eliminate the student loan situation. Several politicians, including President Biden, have currently come up with plans for this, so I don't mind if your paragraph contains some of their ideas., Discussion 1: Student Loans Assignment (Up to 20 Points) A For quite a while the United States Government has been collecting student loan debt from Social Security benefits of retirees because of a decision by the Supreme Court of the United States. The amount it can collect each month cannot be more than 15%. But with over 50% of retirees relying solely on Social Security for their income this has a tremendous impact. The Government does collect about one billion dollars doing this, but it is a mere pittance with the total student loan debt at over 1.7 Trillion dollars, more than current consumer debt. With student loan payment defaults at an all time high, this seriously affects the ability of educational institutions to admit new students who want to use them to finance their educational costs. And, as we have learned, student loans cannot be discharged in bankruptcy, except for very, very rare circumstances of undue hardship. To better understand this exception, I want you to prepare and post on the discussion board your case brief of Rosenberg v. N.Y.State Higher Education Services Corp., 610 B.R. 454 (Bankr/ S.D.N.Y. 2020, which can be found in Chapter 30: Bankruptcy of your textbook. And, if interested, the case in full can be found on the Internet, but this is not necessary. Use the case brief format as found in the course "Announcements." Also,, please provide a paragraph containing your personal comments as to whether you agree with the court's decision and as to what remedies you believe could be made to alleviate and/or eliminate the student loan situation. Several politicians, including President Biden, have currently come up with plans for this, so I don't mind if your paragraph contains some of their ideas.,

Answer rating: 100% (QA)

Case Brief Rosenberg v NY State Higher Education Services Corp 610 BR 454 Bankr SDNY 2020 Facts Rose... View the full answer