Category Archives: Student Loans

Disability Discharge of Federal Student Loans

The borrower’s permanent and total disability is grounds for a student loan discharge. Borrowers with FFELs, Direct Loans, and Perkins loans are eligible for this discharge.[1] This includes consolidation loans. The definition of disability changed as of July 1, 2010. … Continue reading

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Perkins Loan Forgiveness Program

The Perkins Loan Forgiveness Program was the first to provide for cancellation of loans for teachers in low-income school districts. A 2005 Second Circuit decision broadened the Perkins Loan Forgiveness Program to include numerous occupations related to teaching, public interest … Continue reading

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Teacher Loan Forgiveness Program

Teachers who are full time and work five (5) consecutive years in certain schools that serve low income families are eligible to erase $5,000.00 of their federal student loans. Math or Science teachers in eligible secondary schools and special education … Continue reading

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Student Loans: The Next Debt Bubble

Total student loan debt in the U.S. is expected to reach $1 trillion this year — more than the nation’s total credit-card debt. The consequences of default are severe. Unlike most debt, student loans are almost impossible to dispose of … Continue reading

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Student Loans and Bankruptcy

Chapter 13 Bankruptcy restructures your debt in order to make financial obligations to creditors manageable. Debts commonly included in Chapter 13 bankruptcy cases are past due mortgage payments, car loans and student loans. Nothing absolves you from having to pay … Continue reading

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