Florida Student Loan Lawyer

Bankruptcy and 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 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.

Florida Student Loan Modification

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.

Nursing Student Loan Forgiveness Program

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 student loan lawyer to learn more about all of the options available to help you reduce or eliminate your student loan debt.

Teacher Student Loan Forgiveness Program

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. There are regulations that apply to the Florida teacher student loan forgiveness program that may prohibit you from or assist you in qualifying. Let us help you evaluate your student loan debt relief options today.