Bankruptcy proceeding Discharge of Figuratively speaking Is very Rare
Predatory universities. The borrower may have a useless degree that does not qualify the borrower for employment or to sit for a licensing exam. The borrower may have dropped out of college with debt but no degree.
Borrower’s financial obligation restrict
Excessive loans. The borrower’s debt may be high enough to prevent the borrower from being able to repay the debt even if the borrower maximizes income and minimizes expenses.
Not enough earnings-motivated installment. Private student loans do not offer income-driven repayment. Federal Parent PLUS loans are not eligible for income-driven repayment unless they are included in a federal direct consolidation loan, in which case the consolidation loan is eligible for income-contingent repayment. (more…)