' Student Loans: Is Discharge in Bankruptcy Possible? - Law Offices of Robert M. Geller, P.A.

Student Loans: Is Discharge in Bankruptcy Possible?

is student loan debt dischargeableStudent loans have become a necessary evil for most students to pursue higher education. The cost of education has increased exponentially. Most students cannot afford to pursue their dream education without taking out student loans. However, paying back student loans can be overwhelming and sometimes impossible for many graduates.

For those who are considering bankruptcy as a possible solution, you may wonder if it is even an option for student loans. What should you know about discharging your student loans through bankruptcy?

Is Student Loan Debt Dischargeable?

Student loans are one of the few types of debt that are not eligible for discharge in bankruptcy. However, there are certain circumstances where you can discharge your student loans through bankruptcy. Keep in mind, they are limited and difficult to prove.

One way to discharge your student loans through bankruptcy is by filing a hardship petition. This means demonstrating that repaying your student loans would result in an undue hardship for you and your dependents. This is a difficult standard. Bankruptcy courts are often unsympathetic to hardship petitions.

Were You Misled by Your School?

Another way you may be eligible for student loan discharge is by proving that your school engaged in misconduct. For example, the school was unable to provide proper education for the loans that were taken out.

If you were promised a degree, but the school shut down before you could complete the program, you may be eligible for the discharge of your student loans. However, keep in mind that proving this type of misconduct can be difficult. You will need to provide evidence to support your claim.

Additionally, if you can prove that you have a disability that prevents you from repaying your student loans, you may be eligible for student loan discharge. Again, this is a difficult standard to meet. You will need to provide substantial evidence of your disability to be considered for discharge.

Is Changing Your Loan a Better Option?

Finally, if none of the above options work for you, you may consider loan consolidation or refinancing to make your student loan payments more manageable. Many lenders offer attractive terms for consolidating or refinancing student loans into one payment. This allows you to make your payments more manageable and reduce your overall interest rate.

While it’s difficult to discharge your student loans through bankruptcy, it is not impossible. The best way to approach your student loan debt is to explore all available options. Be aware of the circumstances under which you may be eligible for discharge. Remember that bankruptcy is often a last resort. There are alternative options such as consolidation and refinancing that may help you manage your student loan debt. If you are struggling with your student loan payments, seek professional advice from a financial advisor or bankruptcy attorney to help guide you through the process.

For more information about student loan debt or if you’d like to speak to someone about dealing with all types of debt, contact the Law Offices of Robert M. Geller at (813) 254-5696 to schedule a free consultation with an experienced attorney.


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Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
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