Wednesday, January 23, 2013

Update: Student Loans

Sorry for the lack of recent posts.  Final exams took considerable time away from me.  I'll try to be better in the future.

I thought that I should briefly write about something important in the world of bankruptcy that has recently come to my attention.  A new study, discussed on a recent ABI podcast, reveals new data about the dischargeability of student loans.  Specifically, when debtors attempt to discharge their student loans, they are successful approximately 40% of the time.  This is in sharp contrast to we often hear in the media, that student loans are "nearly impossible," or sometimes even that they absolutely cannot be discharged.  It seems as though such media reports have produced a deterrent effect on debtors from even attempting to discharge their student loans.  For more details, I highly recommend listening to the podcast: http://news.abi.org/podcasts/125-study-on-student-loan-discharges-and-the-undue-hardship-standard

9 comments:

  1. Replies
    1. It is entirely possible, however, that the reason the success rate is so high is precisely because most student borrowers know that they don't meet the standard (which is fairly well-settled), and they and their attorneys do not waste the time and money on an obviously futile adversary proceeding.

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  2. It is entirely possible, however, that the reason the success rate is so high is precisely because most student borrowers know that they don't meet the standard (which is fairly well-settled), and they and their attorneys do not waste the time and money on an obviously futile adversary proceeding.

    student loan consolidation

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  3. It's unfortunate the burden that student loans put on American citizens. Especially with the epic unemployment rates that accompanied the recession. Luckily, Indianapolis Bankruptcy isn't as significant as it could be with our high employment rates for new college graduates of current. We'll see if it remains that way as the years go by though.

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  4. my name is vicky from uk since the past 8yrs i have
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    at time i also loss more, my business was trumbling
    because i wanted more i went to the bank to get a loan
    200,000 dollars which i invested on my business 2weeks
    later robbers bust in my store and they took almost
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    store that was 10,jan,2014 a partner called me that
    my store has been set ablaze at first i thought it's
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    she is a goddess sent to save life so don't doubt her because her charms is no prediction
    once again i thank you priestess of life..

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  5. Nice post.....!!!!!!!!
    Thanks for sharing it.
    Regards,
    Student Debt Center

    ReplyDelete