Education is a pathway to success for millions of people. Unfortunately, many students are saddled with massive student loan balances. Upon graduation, the loan payments begin. What started with a simple signature can become a financial burden later in life.
If you’ve contacted your student loan servicer for help, but you’re still struggling to make payments, a student loan attorney may be able to help.
Stiberman Law has helped individuals in Florida create a realistic payment plan to help resolve their student loan debt.
Generally speaking, you cannot discharge your student loan debt through bankruptcy. This is one perk that the federal government gives student loan companies to encourage them to lend money to 18-year-olds with limited creditworthiness.
There is an undue hardship exception. If, during bankruptcy, you can show the court that paying your student loan payments would cause severe hardship, you may be allowed to include your student loan debt in your bankruptcy.
The Florida bankruptcy cases where we’ve seen this work have involved large debts incurred at for-profit trade schools. If it can be shown that the school you attended has a history of predatory student lending, your case will be more sympathetic.
You should contact a qualified Hollywood student loan lawyer if you want to explore these options.
Federal bankruptcy courts in Florida recognize that they need to offer some sort of relief for bankruptcy filers that are struggling to repay their student loans. Different courts have decided to handle this differently.
For example, the US Bankruptcy Court in the Middle District of Florida has launched their own Student Loan Modification (SLM) program. While you will still find it difficult to discharge your student loan debt as part of a bankruptcy, there is a new forum where debtors and student loan lenders can communicate. This allows the court to play a facilitating role, without placing your student loan debt into your bankruptcy filing. The hope is that lenders will be more willing to lower student loan payments as part of this program, in cases where there is genuine need for relief.
Stiberman Law is an experienced Florida student loan law firm in Hollywood, Florida. We can help you navigate your options to create a solution that puts you back on the path to financial prosperity.
Experian reports that student loan debt in Florida has exploded. Nationally, student loan debt has skyrocketed from $650 million in 2009 to $1.41 billion in 2019. That’s insane. Education is important, but we shouldn’t be loading up students with massive loans that are difficult to discharge in bankruptcy – especially at the beginning of their professional career.
Student loans can take a lifetime to pay off. In most cases, they cannot be discharged through bankruptcy – although we’ve been able to utilize work arounds in some cases.
If you’re struggling with student loan debt, you need to speak with a Florida student load lawyer.
Depending on your profession, you may be eligible to have a portion of your student loans forgiven. Generally speaking, you need to be employed in an industry that serves the public good. Healthcare and public legal help are just two examples.
If you’re serving your community, the state of Florida wants to reward you by helping with burdensome student loans. By taking a job serving your community, you often accept a pay decrease compared to private sector salaries for the same profession.
If you work for a qualified health organization, you may be eligible to have up to $16,000 of your student loans forgiven. The Florida Nursing Student Loan Forgiveness Program (NSLF) provides eligible full-time nurses with $4,000 of student loan relief for each year of service. The benefit is capped at four years.
There are other stipulations associated with this program. You can speak with a Florida student loan lawyer to learn more about all of the options available to help you reduce or eliminate your student loan debt.
The federal government provides some teachers with up to $17,500 in student loan relief. You can learn more by clicking here.
You do not need to hire an attorney to take advantage of this benefit. Stiberman Law wants to ensure that you have access to all the student loan repayment options available to you, even if you don’t need our help to take advantage of it.
Schedule a Free Consultation with a Florida Student Loan Lawyer
If you’re struggling to make ends meet, we may be able to help. You need a solid plan to help get your finances back in order. Our experienced team has helped families in Hollywood get out from under crushing debt.
Every situation is unique. We’re not here to judge. We are here to help you take advantage of our experience. Let’s talk about your needs and get reliable answers to your questions. You can reach us by picking up the phone and scheduling a free consultation with an experienced Florida student loan lawyer.
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