Slave wages at best.
Student loans do not go through the discharge procedure, only bankruptcy's. A discharge takes place six months from the date you filed for bankruptcy. Then you have to wait two years from the date of discharge to apply for a home loan.
Student loans are exempt from discharge because too many others had the same idea.
It's my understanding that student loans are not discharged by bankruptcy any longer. YOu should check this, though
The only way to get out from under a student loan is to pay it off. You can go to the Department of Education web site for more information
Federal student loans have no statute of limitation, meaning they can collect forever. The can garnish your wages without taking you to court, take your tax refund, and sue you in court for property and bank accounts. Student loans are also almost impossible to discharge in bankruptcy. There are people now who did not repay their student loans from the 1970s who are having their social security garnished. Not paying is a very bad idea.
In the USA, you can't discharge penalties and interest on Federally Guaranteed student loans. If you need help getting out of default and getting off of the tax offset list, click on my profile, StudentLoaner, below.
Actually, that's not true - student loans are forgiven when the student dies.
Unfortunately no. All student loans, whether private or Federal are not elligible for discharge in bankruptcy.
Yes, there is a very SMALL possibility that student loans can be discharged in a bankruptcy proceeding and you are correct to say that the reason would be with a very compelling showing of hardship. That being said, this is very uncommon and student loans are typcially classified in a category of nondischargeable debt. A law was passed in 1998 that has made it even more difficult to discharge a student loan in bankruptcy. It is incredibly difficult to discharge a loan in this way, and the only approach is to convince a court that repaying the loan would create a severe hardship for you.
Are student loans forgiven at age 60? Are student loans forgiven at age 60?
There are only a few companies that provide direct student loans. You can go to a bank and get student loans from there, or you can get Federal Loans from your school.
'Undue hardship' dismissals of student loan(s) decisions are generally based on criteria of the U.S. Court of Appeals 2nd Circuit, Marie Brunner, Appellant vs. N.Y. State H.E.S.C. Very seldom will a lower court allow the discharge of student loans. The exception could be,a disability which will not allow the loan holder to ever earn/have sufficient income for repayment.