Category Archives: Student Loans
Supreme Court Offers No Guidance on Student Loan Undue Hardship Test
After receiving a general release from his debts under Chapter 7 bankruptcy, Roger Traversa filed for release from his $60,000 student loan debt, claiming that it would be an undue hardship for him to repay. Traversa testified that it was difficult for him to obtain and hold onto employment opportunities because of issues with depression,… Read More »
Plusses and Minuses on Student Loan Interest Rate Freeze
Today, students are struggling to pay off student loans and this tight job market isn’t helping. Many are living with parents, delaying marriage, and taking other actions to pinch pennies so they can pay off their student loans. The student loan interest rate was about to expire at the end of June 2012, resulting in… Read More »
Income-Based Repayment on Student Loans
Are you having a hard time making your monthly student loan payments? With an average student loan balance of about $25,000 and an average monthly payment of around $250 per month, many former college students find it hard to get the money together. If you are among those who struggle to pay off the cost… Read More »
The Fight to Discharge Student Loans
The National Association of Consumer Bankruptcy Attorneys (NACBA) is currently lobbying Congress in support of a bill aimed at letting debtors discharge private student loans during bankruptcy filings (federal loans would not be affected). Currently, it’s very difficult to get student loans discharged by bankruptcy court unless there’s a finding of “undue hardship.” However, courts… Read More »
What Happens if I Can’t Pay My Student Loans?
If you’re falling behind on your student loans, you may be worried that your wages will be garnished or your tax refund will be taken. Bankruptcy no longer erases student loans, but there are other ways to address the situation. Even if you’re having financial problems, it’s important to keep paying your student loans. You… Read More »
