1. Short title
This Act may be cited as the “Private Student Loan Bankruptcy Fairness Act of 2023”.
Private Student Loan Bankruptcy Fairness Act of 2023
A BILL
To amend title 11 of the United States Code to modify the dischargeability of debts for certain educational payments and loans.
2. Exceptions to discharge
Section 523(a)(8) of title 11, United States Code, is amended—
by striking subparagraph (B); and
in subparagraph (A)—
in clause (i)—
by striking “(i)”; and
by inserting “any program for which substantially all of the funds are provided by a” after “unit or”; and
in clause (ii)—
by striking “(ii)” and inserting “(B)”; and
by striking “or” at the end.
3. Effective date; application of amendments
Effective date— Except as provided in subsection (b), this Act and the amendments made by this Act shall take effect on the date of the enactment of this Act.
Application of amendments— The amendments made by this Act shall apply only with respect to cases commenced under title 11 of the United States Code on or after the date of the enactment of this Act.