Resolving Defaulted Federal Student Loans
Created on February 06, 2018
Thousands of students and former students across the U.S. are falling into default on their loans, causing large collection fees to accrue, and putting those debtors at risk of wage garnishment. Many debtors feel that their financial future is constrained by a lack of options in resolving these debts.
This course, taught by NYC debt relief attorneys Simon Goldenberg, Stephen Basedow, and Jared Louzon, provides an overview of the options that are generally available to resolve defaulted federal loans, as well as helpful tips on how to avoid common pitfalls in the process.
- Distinguish between federal student loans, private loans, and tuition debt
- Review relevant parts of the Higher Education Act such as statutes of limitation and bankruptcy
- Consider the consequences of defaulting on federal loans, such as collection costs, wage garnishment, and negative credit reporting
- Explore the different kinds of debt forgiveness, such as disability discharge, public service, false certification, and more
- Discuss of consolidation, rehabilitation, and settlement
- Identify the benefits of income-based repayments plans
Gain access to this course, plus unlimited access to 1,500+ courses, with an Unlimited Subscription.Explore Lawline Subscriptions