Page v. National Collegiate Student Loan Trust, No. 18-6011 (8th Cir. 2018)
Annotate this CaseThe Bankruptcy Appellate Panel reversed the district court's denial of debtor's motion for summary judgment seeking a discharge of her NCSLT debt under 11 U.S.C. 523(a)(8). The panel held that the district court made ample findings based on undisputed facts to support its conclusion that the loan was an educational loan within the meaning of section 523(a)(8)(A). However, the panel held that the bankruptcy court's inference in NCST's favor that TERI "funded" the loan was not reasonable because it was not supported by the evidence. Therefore, the panel remanded the issue regarding TERI's guarantee of the loan and funding of the program for further consideration.
Court Description: Dow, Author, with Chief Judge Saladino and Sandberg, Bankruptcy Judges] Bankruptcy Appellant Panel - Discharge under section 523(a)(8). Following receipt of an education loan, debtor used proceeds to pay for non-education expenses and listed the loan in her 2010 bankruptcy. In a challenge to the nondischargeability under section 523(a)(8), the bankruptcy court properly found the debt was an educational loan. The bankruptcy court's inference in NCST's favor that The Educational Resources Institute, Inc. "funded" the loan program based on its role in the administration of the loan program was not reasonable and was not supported by the record. Thus the issue regarding TERI's guarantee of the loan and funding of the program is remanded for further consideration. [ November 19, 2018
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