Millions of people have gotten a break from paying their federal student loans during the pandemic. But there's been no relief for millions of others with private student loans who may not realize bankruptcy could be an option.
"For folks that have lost their jobs during the pandemic that are struggling for money that are still struggling to stay afloat, bankruptcy might be the best option for them," said Mike Pierce, the executive director of the Student Borrower Protection Center."Particularly, if they're already going to file bankruptcy because of medical debt or credit card debt, being able to escape these often very high-interest rate private student loans is a lifesaver.
"Our investigation found evidence that for years, big and small companies across the country have been telling borrowers that they're not eligible to discharge their loans and bankruptcy, while also telling their investors that law actually says you can discharge these in bankruptcy," Pierce said. Attorney Christie D. Arkovich has been helping people file for bankruptcy with their student loans since 2016 but says only a small number of people are aware bankruptcy is an option.
Arkovich's clients range from people in their 30s to people in their 60s. Most have student loans with high-interest rates from the mid-2000s.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Student Loan Forgiveness Of $50,000 Would Cancel Student Loans For 36 Million PeopleYes, 36 million people would have no more student loans.
Lire la suite »
Where Biden Stands On Student Loan CancellationHere’s where President Joe Biden stands on student loan cancellation
Lire la suite »
Kids forced to sit in gym when teachers call out. How early dismissals aim to help N.J. district.Millville middle school and high school students will be leaving early every day, starting Monday.
Lire la suite »
New program helps adults with intellectual challenges after aging out of public education systemIt's called the 'After 22 Project' because that's the age when students with intellectual challenges traditionally age out of the public education system, leaving them with few options to further their learning.
Lire la suite »
Car given to Nebraska high school student by his late father stolen and wreckedA car given to a high school student in Lincoln, Nebraska, by his late father was stolen and then wrecked.
Lire la suite »
Bank of England Expected to Impose Back-To-Back Rate Hikes for the First Time Since 2004Economists expect the Bank of England to hike interest rates consecutively for the first time since 2004 as it looks to steer the U.K. economy through persistent high inflation.
Lire la suite »