A group of Democratic senators introduced a bill Jan.23 that would allow privately issued studentloans to be discharged along with other bankruptcydebt. 

S. 114, the “Fairness for Struggling Students Act of 2013,” issponsored by Sen. Richard Durbin (D-Ill.) and is co-sponsored bySen. Al Franken (D-Minn.), Sen. Tom Harkin (D-Iowa), Sen. Jack Reed(D-R.I.), Sen. Elizabeth Warren (D-Mass.) and Sen. SheldonWhitehouse (D-R.I.).

“Too many Americans are carrying around mortgage-sized studentloan debt that forces them to put off major life decisions likebuying a home or starting a family,” Durbin said. “It's not onlyyoung people facing this crisis, it is parents, siblings and evengrandparents who co-signed private loans long ago and are stillmaking payments decades later. It's time for action. We can nolonger sit by while this student debt bomb keeps ticking.”