Can you discharge student loan debt through bankruptcy?

In India, student loan debt cannot be discharged through bankruptcy. The Insolvency and Bankruptcy Code, 2016 (IBC) does not provide for the discharge of student loan debt. This means that borrowers are still obligated to repay their student loans even if they file for bankruptcy.

It is important for borrowers to consider the longterm consequences of defaulting on student loans before filing for bankruptcy. Defaulting on student loans can have serious consequences, including damage to credit score, wage garnishment, and legal action by the lender.

If a borrower is struggling to make payments on their student loans, they should explore alternative repayment options such as incomebased repayment plans, deferment, or forbearance. It may also be helpful to seek the guidance of a financial advisor or a credit counselor to explore options for managing debt.