When I used to cite the statistic that the total amount of U.S. student loan debt has ballooned up to $1.27 Trillion[note]http://www.federalreserve.gov/econresdata/notes/feds-notes/2015/how-much-student-debt-is-out-there-20150807.html[/note], people would gasp in...
Income based repayment is a payment plan for federal student loan borrowers that caps a borrowers monthly loan obligation anywhere from 10% to 15% of monthly discretionary income. You make these payments for 20 years, and after successful completetion of this program,...
If you’ve stopped paying your federal student loans, the government can administratively garnish up to 15% of your wages without having to sue you. There are three ways to stop an administrative wage garnishment for federal student loans. If anyone has a...
It seems that everyone knows student loans can’t typically be discharged by filing bankruptcy. The only way to get a bankruptcy discharge of your student loan debt is to show an undue hardship. Besides the fact that it is incredibly difficult to show an undue...
Settling student loan debt is far more difficult than settling credit card debt or medical bills. This is because student loans are, in a vast majority of circumstances, not dischargeable in bankruptcy. The only way to discharge your student loan debt in bankruptcy...
Student loans can be great thing. They can help people achieve a higher level of education than they otherwise would not have had the opportunity to pursue. But, student loans can also be the bane of many families’ existence. Lenders will dole out thousands...
