The remaining element of this particular article centers on taking a look at all of the three sub-areas of 523 (a)(8) in the context of individual education loan debts. The original part of it three-part blog post concentrates on Section 523 (a)(8)(A)(i). Another and third segments speak about Area 523 (a)(8)(A)(ii) and you can Point 523 (a)(8)(B), respectively.
Section 523 (a)(8)(A)(i) (hereinafter “AI”) is the first sub-section of Section 523 (a)(8). or made under any program funded in whole or in part by a governmental unit or non-profit institution” is non-dischargeable.
The second use of the word “or” separates AI into two clauses. There are two notable distinctions between the two clauses. The first distinction is that the first clause is limited to “loans,” whereas “the second clause of AI concerns loan programs, [not] particular loans.” In re O’Brien 318 B.R. 258, 262 (S.D.N.Y. 2004) (emphasis added) (citations omitted). The other notable difference is that the first clause is limited to loans by a “governmental unit,” and the second clause includes governmental units and non-profit institutions. Continue reading »
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