“Dear Steve,
I went to both law school and business school. I dropped out of law school after a year and a half but borrowed a lot of money for that time since law school is quite expensive, especially for a private school. This pretty much set me back. Business school wasn’t as expensive. I now have over $108,000 dollars in school loans (over $20,000 in interest accrued).
I have requested forbearance again now that I no longer qualify for Deferment. I feel like I am drowning in student loan debt. I cannot afford the monthly payment at this time and wonder how I can manage this debt better because the longer I forbear the greater the interest. Please help and advise.
Alex”
Dear Alex,
Student loans are merciless and are the only type of legal loan that can add loan shark default rates of up to 40% of the value of the loan. They are difficult to discharge in bankruptcy and the government can even intercept tax refunds you might be due to pay for student loan obligations.
I suggest that you review this previous question for detailed information about options for repayment. See “Tiffany is Behind in Student Loans, Late On Other Payments, And Looking For Hope“.

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Dear Alex, Steve Rhode was very helpful and encouraging to me before, during and after I filed my Adversary Proceeding as part of my Chapter 7 personal bankruptcy last year. I did not have an attorney and I won a full discharge of nearly $130,000.00 without a trial in Federal Court in Alexandria, VA just a few miles from the Washington D.C. Dept of Education’s office!
I continue to offer help and advice to others like myself who have reached the point of no return with student loan debt. I offer help on my personal blog site: http://www.unduehardship-povertyrequired.com. Steve Rhode has re-published many of my articles on his site, and I so appreciate his hard work. If I can be of help follow me on my blog and comment there and I will get back to you! Again Steve has been a great friend and help to me and I am happy to call him a friend! God Bless America! Richard Precht, Minn, MN
PS: I also have a friend (a lawyer) in California who owed about $350K in student loan debt. He is about 59 years old and he WON his case in a vicious battle against the DOE and their paid “shills” both of us did our own case work by doing our own cases and spending over year of preparation! Learning all you can about UNDUE Hardship cases and the process involved is the key! I read and re-read thousands of cases to become knowledgeable enough to take my case to court! The US Attorney and Judge settled my case in less that a week! If I can help let me know!