Student Loan Debt Relief

There are numerous federal programs available to assist with relief for Federal Student Loans. Many of these programs have been expanded in recent years. These types of loans include:

• Perkins Loans (terminated as of September, 2017)
• FFEL loans (issued prior to 2010)
• William D. Ford Federal Direct Loans (issued after July, 2010)

These loans may either be Stafford or Plus Loans but not in default. Available remedies may include:

• Administrative Discharge (for death, permanent disability, school closures within 180 days, false certifications, lack of accreditation)
• ICR (Income Contingent Repayment) Plans
• IBR (Income Based Repayment) Plans with forgiveness
• PAYE (Pay as you Earn)
• REPAYE (Revised Pay as you Earn)
• PSLF (Public Service Loan Forgiveness)
• Teacher Forgiveness
• Loan Consolidations

If defaulted, there are ways to Rehabilitate the loan and thus make them eligible for these administrative programs.

Private or State Loans require direct negotiation with the Lender or Servicer but often terms can be reached with similar results to Federal Loan Programs. If negotiation is not possible, there are avenues to explore within the context of Chapter 13 Bankruptcy which can provide general relief with deferment of the loans, or under specific circumstances, render the loan partially or entirely dischargeable.

The first step is to obtain your Federal Student Loan Transcript (NSLDS) at www.studentaid.gov. Only the borrower can obtain this. Contact our office to see if we can help you.