Student debt could hold back economic growth, should be discharged in bankruptcy, Fed chief says

Burgeoning levels of student loan debt could slow down economic growth over time, Federal Reserve Chairman Jerome Powell said Thursday. While the issue is primarily one for Congress to tackle, Powell said it could become an economic question. "You do stand to see longer-term negative effects on people who can"t pay off their student loans," he said. "It hurts their credit rating, it impacts the entire half of their economic life."