Business Insider: More student-loan borrowers are taking advantage of an updated route to get rid of their debt in bankruptcy court, top Democratic senators say

An updated process for student-loan borrowers to get rid of their debt in bankruptcy court is working, a group of Democratic senators said.

On Monday, Sens. Elizabeth Warren and Dick Durbin led Sens. Raphael Warnock and Sheldon Whitehouse in sending a letter — first viewed by Business Insider — to the Justice and Education Departments regarding the status of recent guidance intended to make it easier for borrowers to have success in bankruptcy court.

Discharging student loans in bankruptcy court has been historically difficult. Borrowers had to prove a standard known as "undue hardship," in which they cannot maintain a minimal standard of living, their circumstances aren't likely to improve, and they have made a good-faith effort to repay their debt.

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Read the full story here.

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