[Mike Darancette]

Is there any type of loan agreement (contract) signed for these loans? If so, I can see this affecting future loans, but how can a change in policy negate a legal contract?

I think it begins with new loans made this year. They will allow loans back to 2008 to be rolled into the new loan.

I caught a creditor who paid his student loan off with an American Express Card then went BK 6 months later.

[April Lexington]

I think it begins with new loans made this year.

Who would be stupid enough to make a student loan after this goes into effect? Only Ben Bernanke as he tries to sop up crapola student loan backed bonds in a buyer less market...

[Mike Darancette]

I caught a creditor who paid his student loan off with an American Express Card then went BK 6 months later.

I meant debtor.