Student Loan Debt

If you are one of millions of graduates and former students who took out a loan to pay for your education costs – tuition, books and/or housing – then you are already aware of how crippling student loan debt can be. The United States is working its way through a long recession, and not every student who graduated could find work in their field of study. Some students were not able to graduate, due to economic or other reasons. If you find your current income does not cover the cost of your student loan repayment obligations, you are not alone.

Bankruptcy, often considered when someone is in debt over their heads, does not usually discharge student loan debt. In certain instances, student debt can be cancelled, forgiven or discharged by the student loan lender. There is an application process and your application must be approved.