How To Seek Student Loan Forgiveness

Bankruptcy Attorney

For the vast majority of students forced to leave the halls of higher education with the staggering burden of massive student loan debt the idea of ever being free from that yoke is at best a dream and for most it is nothing but a nightmare.

The economy, the politicians say with a straight face, is recovering from the near death knell of 2008/2009, but for many graduates seeking employment in the fields they studied for, that seems to be at the very least an unavoidable untruth and at worst a blatant lie.

While the chance of ever being completely forgiven for student loan debt is pretty slim, (even in bankruptcy the people who write the laws have ensured that while other debts may qualify for forgiveness, student loan debt will not be affected by bankruptcy and you will be unable to get a bailout like the banks did) you may be able to seek a reduction in your monthly payments if you are truly struggling or even have the opportunity to have the payments temporarily suspended if you are facing serious financial hardship.

There are a wide variety of programs available such as the ”Income Contingent Repayment Plan” and the “Income Sensitive Repayment Plan” among others. These, and other plans are designed to try and take a little of the pressure off the debtor until they reach a point where repayment is more feasible. Do some research and you may well find a plan that is right for your particular situation. What have you got to lose? Be sure to consult with a student loan debt relief attorney for great advice.