The federal bankruptcy law’s failure to help heavily indebted borrowers of student loans will be studied by a new panel of law professors, federal judges and consumer advocates.

Members of the new Commission on Consumer Bankruptcy, led by the nonpartisan American Bankruptcy Institute, will examine the U.S. consumer bankruptcy system’s lack of power to fix student loan debt, among other problems that have arisen since the law’s last major overhaul in 1978.

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