As you probably know, student loans are generally not dischargeable in bankruptcy court. So despite your recent bankruptcy filing, any loans you had with Sallie Mae remain outstanding. To bring an overdue student loan current, simply contact your lender or loan servicer and make arrangements to pay the amount due – either in a lump sum or over time. If your student loan is seriously delinquent and is in default, you can do one of four things:
A couple of Facebook fans who recently heard me on the Russ Parr Show have asked me to elaborate on the Student Loan Cancellation Program. Under federal law, you can get your federal student loans canceled or discharged for many different circumstances. Reasons for loan discharge: Death Total and permanent disability School-related issues or improper …
Effective Oct. 7, 1998, all borrowers of Perkins loans are entitled to have those loans discharged if they served in the U.S. armed forces. This student loan cancellation privilege applies to Perkins loan recipients regardless of when the loan was made or what the terms on the original promissory note are. Military personnel qualify for …
Student Loan Cancellation and Discharge for Military Service Read More »
If the school that you attended closed before you could earn your degree, or if you withdrew from the school or were on an approved leave no more than 90 days before it closed, you can also qualify to get your student loans cancelled. Those of you who completed your studies elsewhere or by transferring …
Student Loan Cancellations for School-Related Issues and False Certification Read More »
While many student loan cancellations can be difficult to obtain, some are not. Take the case of Jaclyn Ward, who went to Harvard and then graduated from Fordham Law School in 2003. I once interviewed Ward for Essence Magazine, and she explained to me that her position as an assistant district attorney, in the Manhattan, …
I can already guess what many of you are thinking about getting a student loan cancellation or discharge for reasons of death. You’re thinking, a) I’m reading this information, Lynnette, so I’m obviously alive and not dead! and b) I don’t have any plans on dying anytime soon, nor do I want to die, so …
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