We’ve all heard the saying that the best offense is good defense.  The same goes with student loans.  The best offense is to be defensive in applying for student loans.  Historically, students and parents borrowed money for a majority of college expenses. However, over the last two years, more parents and students are become more prudent in their choices regarding college to alleviate many of the problems with student loans.

According to an article in the Austin American …

Comment by Jacob Decker: … I did not have student loans!

Category: Dallas Bankruptcy , Pay Day Loans , Student Loans

Tags: Education National Association for College Admission Counseling Student Undergraduate education United States

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Many people ask me about discharging student loans when they’re looking into filing for bankruptcy.  Typically, student loans aren’t discharged during bankruptcy proceedings.  It’s not impossible to accomplish if you can show that paying the student loan debt “will impose an undue hardship on you and your dependents”.  Bankruptcy judges use various tests to determine whether a borrower has proven undue hardship. …

Comment by Jacob Decker: … 13 bankruptcy all student loans are essentially put in …

Category: Pay Day Loans , Repossessions , Student Loans

Tags: Bankruptcy Debt Financial services Law Loan Student loan

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Student loans are very difficult to discharge in bankruptcy.  However, they can be discharged in either Chapter 13 or Chapter 7 bankruptcy under certain circumstances.  There are two main reasons for discharging student loans in bankruptcy, a) if the debtor dies and b) if repaying the debt would cause an undue hardship on the debtor.  The fact that “undue hardship” has not been clearly …

Category: Bankruptcy , Credit Crisis , Economy , Filing Bankruptcy , Student Loans

Tags: Bankruptcy hardship Student Loans

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Many Americans drowning in student loan debt and many of those considering college listened to President Obama with much anticipation as he tackled the issue of crippling debt burdening most Americans who pursue a college education.  President Obama announced that he was working with Congress to create a national program which would ease the burden of student loan debt.

The President said:

To make college more …

Category: Economy , Student Loans

Tags: College Economy President Barack Obama State of the Union Student Loans

Permalink: /student-loans/the-state-of-the-union-student-loans-and-bankruptcy/

Student loans are almost impossible to discharge in bankruptcy, with exception of undue hardship as most graduates who have fallen upon hard times have eventually discovered.  But according to an article in Inside Higher Education, legislators are now moving to consider altering the bankruptcy code to change the way private student loans are treated during bankruptcy.

A quick overview:  …

Comment author: Consolidate loans

Category: Bankruptcy , Student Loans

Tags: Bank of America Government Accountability Office Loan Student loan

Permalink: /bankruptcy/will-student-loans-soon-become-dischargeable-in-bankruptcy/

Many people ask me about discharging student loans when they’re looking into filing for bankruptcy. Typically, student loans aren’t discharged during bankruptcy proceedings. It’s not impossible to accomplish if you can show that paying the student loan debt “will impose an undue hardship on you and your dependents”. Bankruptcy judges use various tests to determine whether a borrower has proven undue hardship.

One …

Comment by Linnie Buckley: My student loans are out of control. Years …

Category: Bankruptcy , Debt Consolidation , Student Loans

Permalink: /debt_consolidation/student-loans-and-bankruptcy-can-i-discharge-my-loans/

Many Americans drowning in student loan debt and many of those considering college listened to President Obama with much anticipation as he tackled the issue of crippling debt burdening most Americans who pursue a college education.  President Obama announced that he was working with Congress to create a national program which would ease the burden of student loan debt.

The President said:

To make college more …

Category: Loans / Mortgages , Student Loans

Tags: Discharge relief Student loan

Permalink: /loans-mortgages/the-state-of-the-union-student-loans-and-bankruptcy-2/

… who invested in Texas’ prepaid tuition plan to pay for their child’s education and avoid student loans may be out of luck after November 30, 2009. On November 30 th new rules governing the program take effect that will change the way the Texas Guaranteed Tuition Plan calculates refunds.

The article said:

“The plan, which started selling contracts in 1996 as the Texas Tomorrow Fund, gave families the chance to prepay tomorrow’s college tuition and required fees at Texas …

Category: Economy , Student Loans

Tags: Student loan Texas Tomorrow Fund Tuition

Permalink: /student-loans/avoiding-student-loans-seems-impossible-for-texas-future-college-students/

According to an article in the Dallas Morning News, Texans are defaulting on their student loans at an alarming rate.

The article said:

“In Texas, 9.3 percent of borrowers defaulted on their federal student loans last year – the highest rate in nearly a decade. Only Arizona had a higher rate, 9.8 percent. The national average was 6.7 percent, based on the data released this week.”

Many Texans are graduating from college are unable to find jobs or if they find a …

Category: Economy , Student Loans

Tags: Student Loans Supreme Court of the United States Texas

Permalink: /student-loans/texas-student-loan-defaults-2nd-highest-nationwide/

… Texas a debtor who suffers from autoimmune hepatitis was denied a bankruptcy discharge of her student loans because the bankruptcy court determined that her illness was present when she applied for the loans and attended college.

This case is interesting because the debtor was diagnosed with her disease in 1999; but first took out loans in 2001(after her diagnosis); but by December 2007 the debtor had a stroke and was hospitalized. Although she was released and cleared to return to …

Category: Student Loans

Tags: foreclosure Student Loans

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As we mentioned in Part I, most debtors find it difficult to discharge their student loans in bankruptcy.  However, there are several other ways to discharge your student loans before, after or even during bankruptcy. As we mentioned in Part I of “ Are There Other Ways To Discharge My Student Loans Besides Bankruptcy? ”, a debtor who cannot discharge their loan in bankruptcy can receive a discharge if they are permanently disabled, dead (and in the case of PLUS …

Category: Bankruptcy , Student Loans

Tags: Bankruptcy Student Loans

Permalink: /bankruptcy/are-there-other-ways-to-discharge-my-student-loan-besides-bankruptcy-part-ii/

As we have previously mentioned, discharging a student loan in bankruptcy can be difficult to say the least.  In order to receive a bankruptcy discharge for your student loans, you must be able to prove that repaying the loan would cause an undue hardship.  Unfortunately, “undue hardship” has not been specifically defined. This lack of a clear definition has created a situation where two debtors with similar circumstances will …

Category: Bankruptcy , Loans / Mortgages , Student Loans

Tags: Bankruptcy Discharge Student Loans

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