What SoFi Just Told the SEC About Discharging Private Student Loans
You’ve been told private student loans can’t be discharged in bankruptcy. SoFi’s own SEC filing says some can — here’s how to find out if yours qualifies.
Student Loan Bankruptcy Discharge
Insights on student loan bankruptcy discharge—eligibility, legal challenges, recent court rulings, and strategies for managing student debt relief.
Yes, Student Loan Interest Keeps Accruing During Bankruptcy — But That’s the Wrong Thing to Worry About
The automatic stay stops collection — not interest. Here’s the Chapter 7 vs. Chapter 13 breakdown, and the 87% discharge success rate most borrowers leave untouched.
Student Loan Attorney Answers Your 10 Biggest Questions for 2026
July 1, 2026 changes everything for student loan borrowers. Parent PLUS borrowers must consolidate before that date to keep IDR and PSLF. SAVE is dead. Collections are returning. A student loan attorney with 17 years of experience answers the 10 questions every borrower needs answered.
Student Loan Bankruptcy Discharge: Myth vs Reality
Quick Answer: Student loan discharge in bankruptcy is extremely difficult but not impossible, requiring proof of “undue hardship” under a three-part test since Congress removed student loans from dischargeable debts in 1978. Borrowers must prove they cannot maintain minimal living standards, their financial situation will persist long-term, and they’ve made good faith efforts to repay.Are …
Student Loan Bankruptcy: DOE and DOJ Guidelines
Quick Answer: The Department of Education and Department of Justice issued new student loan bankruptcy guidelines in November, but critics argue these guidelines lack enforceability and won’t change DOE’s practice of opposing nearly all student loan discharge cases. Previous 2015 guidelines similarly failed to reduce DOE opposition to bankruptcy relief for struggling borrowers.On November 17, …
Student Loan Bankruptcy Fix: What It Means
Quick Answer: The Department of Education issued new guidance to make federal student loan discharge easier in bankruptcy, but this non-binding guidance could be reversed by future administrations. The guidance establishes three criteria for discharge: current inability to repay, likely future inability to pay, and good faith repayment efforts, though experts question its long-term reliability …
Student Loan Token Payments: Myth vs Reality
Quick Answer: Student loan token payments through income-based repayment plans often trap borrowers in perpetual debt cycles, as shown in Tamara Parvizi’s case where courts ordered REPAY enrollment despite her $650,000 student debt being mathematically impossible to repay on her low income.“If the law supposes that,” said Mr. Bumble, squeezing his hat emphatically in both …
Federal Student Loan Settlement: What Records Show
Quick Answer: The Department of Education settled Rodger Love’s $96,564 federal student loan debt for $23,400 in monthly payments of $195 over 120 months. This rare settlement occurred after Love argued that standard Income-Driven Repayment plans would create undue hardship and never pay off accruing interest.Rodger Love filed an adversary proceeding back in January 2020 …
Student Loan Discharge: What It Means and How
Quick Answer: Student loan discharge through bankruptcy is possible but rare, as demonstrated by Judge Thad Collins discharging all $230,000 of Diane Ashline’s federal student debt. The court rejected the Department of Education’s income-based repayment plan, citing her age and lack of future earning potential from her unused degrees.Diane Ashline, a 47-year old single mother, …
Lawyer Bankruptcy: When It Helps and Hurts
Quick Answer: Lawyer bankruptcy can help discharge overwhelming student debt, as demonstrated by cases like Nystrand v. Kingdom of Sweden where law graduates face $36,000+ annual tuition costs. However, it may damage professional reputation and licensing status in a field already suffering from poor job prospects.A common saying when I was young (in the last …
