Bankruptcy Hearing in the Senate & Annual National Financial Capability Challenge Launched

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March 15, 2012 · by COHEAO · Spark Notes
This COHEAO Spark covers two topics, the announcement of a hearing on student loan bankruptcy and the launch of the annual President’s Financial Capability Challenge

March 20 Senate Judiciary Subcommittee Hearing

Today, rumors of a pending hearing on the student loan bankruptcy issue were confirmed with an announcement from the Senate Judiciary Subcommittee on Administrative Oversight and the Courts.  On March 20, the Subcommittee will convene a hearing, “The Looming Student Debt Crisis: Providing Fairness for Struggling Students.”  Though he is not the Chair of the Subcommittee, Sen. Dick Durbin (D-IL), will preside over the hearing, which is not a surprise given that the its title references his legislation on this topic, the “Fairness for Struggling Students Act,” S. 1102.
The hearing is scheduled for 10:00 a.m. on Tuesday, March 20 in 226 Dirksen.  Witnesses have yet to be announced.  Additional information and the hearing webcast is (or will be) available online:

2012 National Financial Capability Challenge Launched

Today, the Administration also announced the launch of the National Financial Capability Challenge.   Here is how the administration describes the contest:
High school-aged students from across the country can test their knowledge about personal finance through the National Financial Capability Challenge and earn a chance to be recognized by the Obama Administration. The annual Challenge enhances students' financial capability by strengthening their understanding of saving, budgeting and investing, among other central personal financial concepts. The voluntary online exam is available to students now through April 13.