Erasing Student Loans

Stop Debt Collector Harassment You have the power to stop student loan harassment. Simply demand that the student loan collection agency stop contacting you in writing. I suggest that you write a letter and send it via fax / email and postal mail certified, with a return receipt clearly stating that you dispute the student loan debt and request that all communication stop immediately. Below is a template that works well: How to Deal With Collection Agencies http://thephiladelphiabankruptcyattorney.com/debt-collector/how-to-deal-with-collection-agencies/ If they continue to contact you, the consumer law allows you to sue them up to $1,000 for for the violation of 

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Emancipate Yourself from Mental Slavery -Discharge Your Student Loans

On May 13, 2013, Monique Evette Jones sought a discharge of her student loan obligations in her Chapter 7 bankruptcy case. Chief Judge Eric L. Frank granted a discharge of approximately $29,760.00 in student loans. The Brunner Test Section 523(a)(8) provides that student loans are dischargeable if they impose an undue hardship on the debtor and the debtor’s dependents.” 11 U.S.C. § 523(a)(8). A debtor seeking to discharge her student loans must prove that: (1) based on current income and expenses, the debtor cannot maintain a “minimal” standard of living for herself or her dependents if forced to repay the 

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Public Service Loan Forgiveness

The Public Service Loan Forgiveness (PSLF) Program discharges any remaining debt after 10 years of full-time employment in public service. The borrower must have made 120 payments as part of the Direct Loan program in order to obtain this benefit. Only payments made on or after October 1, 2007 count toward the required 120 monthly payments. What is forgiven? The remaining interest and principal of the borrowers loans are forgiven. How many payments are required? The loan forgiveness occurs after 120 monthly payments made on or after October 1, 2007 on an eligible Federal Direct Loan. Periods of deferment and 

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Colleges Withhold Transcripts From Grads in Loan Default

By Dave Lindorff More than ten years ago, Pedro Rodriguez, a talented keyboard musician, came from his colonial homeland of Puerto Rico to go to Temple University. From a low-income family, he depended heavily on student loans to finance his four-year undergraduate study. Graduating summa cum laude with a bachelor’s of music, he went on to earn a master’s degree in music from Temple and then was hired for three years to teach there as an adjunct. By the end of college, he was $62,000 in debt but was making payments regularly until Temple laid him off, allegedly because of 

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Other Profession-Related Loan Cancellation Programs

The Department of Education administers a loan-forgiveness program for certain child care providers with FFELs or Direct Loans.[1] Under this program, borrowers who have received an associate’s or bachelor’s degree in early childhood education or child care and who are providing full-time child care services that serve certain low-income communities are eligible for forgiveness of up to 100% of their total eligible loans. Only loans made after October 7, 1998, qualify.  In January 2004, the Department of Education published the application for this cancellation program.[2] The 2008 HEA reauthorization law created a number of new job-related cancellation programs, including loan 

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