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Student Loan Related

A Look at Sallie Mae and Other Student Loans Discharged in Bankruptcy in 2012

Bankrupt

This article is part of my ongoing look at the possibility of discharging student loans in bankruptcy. It is a followup to my article here where I looked at federal student loans that received a modification, settlement or elimination as part of a bankruptcy adversary proceeding filing in 2012. This time I’m taking a look just at the cases in ... Read More »

    Federal Student Loans Discharged in Bankruptcy. A Look at the Surprising 2012 Data and Cases.

    The actual granular data presents a surprising reality.

    The more I research and study the reality of dealing with student loans through bankruptcy the more I am under the opinion the data does not support the assumptions many have that no good options are available in bankruptcy for student loans. In fact my research appears to show that even for government backed student loans there are some significant ... Read More »

      Another Example of Student Loans Discharged in Bankruptcy

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      I’ve been writing more about bankruptcy cases that have resulted in student loan discharges, see here. And in doing some more research I came across another case from 2012. In the Northern District of Georgia a consumer was able to get the following loans discharged: Oakland Community College – $754.80 Texas Guarantee Student Loan – $48,135 U.S. Department of Education ... Read More »

        Florida Man Discharges Federal Student Loans in Bankruptcy

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        Attorney Marilyn Hochman recently scored a victory in discharging federal student loans in a bankruptcy case. The consumer was able to discharge $8,223.49 in federal student loans without opposition by the Department of Education. Foster, the consumer, was unemployed and had previously filed for Social Security disability but was denied due to “not enough information.” Marilyn Hochman filed an adversary ... Read More »

          Big Case Proving Ability to Discharge Student Loans in Bankruptcy

          College Tuition Expenses

          Times are changing when it comes to being able to discharge student loans in bankruptcy. And while the road has been paved by a few who have been successful, one 2013 case decided by the U.S. Appeals Court in the Ninth Circuit seems like it gives hope to those who want to discharge their student loans through bankruptcy. The Ninth ... Read More »

            The Growing Impossibility of Affordable Student Loans

            college costs

            Student loan debt is an impossible crisis that is the result of the divergence of society assumptions and affordability. The chart below clearly shows how the cost of both a public and private college education, while assumed to be the path to success, is becoming out of reach. The chart shows the inflation adjusted increases in costs and as you ... Read More »

              Student Loan Infographic. Yep, Student Loans Suck.

              Screen Shot 2013-06-14 at 9.21.03 AM

              Read More »

                Student Loan Debt by Generation. Sorry Gen X and Millennials.

                student loan debt

                Here is a nifty infographic showing the generational difference and growing danger of student loan debt. Looks like Generation X, those born between 1965 and 1984 is sinking fast. But more Millennials are loaded up with debt than any other generation. And this is what an unfolding crisis looks like. Read More »

                  Student Loan Interest Rates to Double and Might Go Variable

                  surprise

                  If Congress does not take action the rate subsidized student loan holders pay will double July 1, 2013 from 3.4% to 6.8%. Student loan interest rates have been set by Congress and kept artificially low as a way to encourage education. But a vote in the House yesterday about a Republican proposal is set to have some very dangerous and ... Read More »

                    Student Debt Kills Dreams

                    college-class

                    The amount outstanding on student loan debt continues to increase past the point it blew the roof off how much people owe on all credit card debt. Imagine, people owe more in student loan debt which is nearly generational debt. In most cases it can’t be discharged in bankruptcy and with parents and grandparents co-signing for some of these loans ... Read More »

                      The Big Profits Behind Student Loan Interest Rates

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                      The Big Profits Behind Student Loan Interest Rates (via Credit.com) If insanity is defined as repeatedly doing the same thing and expecting a different result, the student loan interest rate throwdown that’s about to be reprised in Washington, D.C., warrants an intervention. You may recall that at this time in 2012, Congress was in a lather over the subsidized student… ... Read More »

                        Maybe You Should Not Go to College

                        Praying

                        I hear all the arguments about the value of a college education. And I agree with much of that. But the fact is not everyone who goes to college and takes on student loan debt graduates or even graduates into a field that pays enough to service the student loan debt. In fact 75 percent of people with student loan ... Read More »

                          Why Student Loans Can Keep You From Buying a Home

                          robbery

                          How Student Loans Can Keep You From Buying a Home (via Credit.com) As student loans take on an increasing presence among the 20-something generation of college graduates who have traditionally made up a high proportion of first-time homebuyers, the impact of student loan debt on a mortgage application becomes increasingly important — especially as about two-thirds… Read More »

                            How to Discharge Your Student Loans if You Are in the Military, Police, or Teacher

                            How-To

                            More and more at GetOutOfDebt.org we are getting questions about how to get your student loans eliminated, forgiven, or discharged if you are in or served in the military, police officer, teacher, librarian, or other public service employee. It is absurdly ironic that members of the military can go into harms way, fight in combat and yet return back home ... Read More »

                              The Ultimate Guide to Dealing With Student Loans You Can’t Afford

                              Thinking

                              More and more student loans are becoming the most problematic debt anyone can own. At some point in the past couple of decade student loans when from a leg up to financial slavery. There is a lot of information out there about how to deal with troublesome student loan debt and payments. But I thought I’d put together the ultimate ... Read More »

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