Student Loan Basics

featured-2The news is filled with stories about the burden of student loan debt.  Elizabeth Warren is leading a Student Loan Crusade.  As NPR stated, “College loan debt isn’t easing up, and students are struggling to navigate a plethora of obligations.”  With more debt than credit cards, student loan debt is truly a daunting issue.  (As of March 31, 2013, there was $986 billion of student loans and 16.2% of Americans have student loans that carry an average balance of $24,810.00.)  Student loans are a big issue and, unfortunately, they are not an issue that is going away anytime soon.

What concerns many people is a feeling of defeat and hopelessness about getting out from under the burden of student loans.  With the economy and job market, the prospect of paying back student loans is even more daunting. When coupled with the fact that student loans are usually not dischargeable in bankruptcy, the fear is exacerbated.  What few people know, however, is that student loans are not a lost cause.  Help is available, and we are happy to assist you.

What many people do not realize, is that there are actually many options for managing loans.  These options include:


  • Deferment/Forbearance
  • Repayment based on income
  • Consolidation
  • Rehabilitation
  • Administrative Discharge
  • Student loan forgiveness
  • Settlement


Our office understands the struggle of student loans and we want to help you.  Please contact us for a free, no-obligation evaluation so we can assess your options and help alleviate your stress.