Also known as: student loans · educational loan
Written by attorneys — see sources below.
A loan extended to finance post-secondary education or related expenses.
Santiago Sanchez filed for bankruptcy and obtained discharge of his student loans shortly before applying for admission to the bar. The character committee reviewed the filing as part of its inquiry into financial responsibility. The committee concluded that the discharge reflected a lack of accountability that bore on fitness to practice.
The United States sued Samuel Soto to recover on a defaulted student loan that the government had guaranteed. Because the suit fell within the listed categories, Soto was not required to make initial disclosures under the civil rules. The government proceeded directly to targeted discovery on repayment history and current assets.
Yes. A discharge obtained through bankruptcy may be treated as evidence of financial irresponsibility. Regulators may examine such conduct provided the inquiry remains rationally related to fitness for practice.
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No. Such collection suits are exempt from the initial-disclosure requirement. The exemption allows the government to move directly to focused discovery on repayment and assets.
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