Top 7 Student Loan Debt Questions, Answered
Not only are more and more college students graduating with student loan debt, they are owing more and more each year. Rising tuition costs coupled with graduate school means you could be entering the workforce with tens or even hundreds of thousands of dollars in school loan debt. And unless you're making hundreds of thousands of dollars per year, paying down that debt may seem unlikely or even impossible.
Never fear -- although the repayment process can be complicated, especially if you're behind or can't afford your payments, we've got answers to your most common student loan debt questions. Here they are, from our archives:
You're not alone -- some 40 million Americans owe almost $1.3 trillion in student loan debt. And many of them have trouble affording even the minimum monthly payment. Here's what you need to know.
With so many people carrying so much in debt, it's understandable their spouses and potential partners would be concerned with taking that debt themselves. As in other aspects of life, timing is everything.
Most students can't secure the kind of financing necessary for college on their own, so they have a parent or grandparent co-sign on the loan. So what happens to your loan of you lose a co-signer?
Recognizing the burden so many graduates carry with them into the job market, the president ordered a cap on monthly payments. But does it apply to you and your school loans?
If the school you attended committed fraud or otherwise violated applicable state law related to your loans or the educational services you paid for, you may be entitled to debt relief.
A nightmare for most; a reality for many. Student loans have the highest delinquency rate of any consumer loan out there, so what happens when delinquency turns into default? Is there any coming back?
One of the answers to the default question is that the federal government will garnish your wages to recover on the loan. But how much, and for how long? And is there any way to stop wage garnishment once it's started?
Being mired in student loan debt may make you feel helpless. But there is help out there. If you have more questions or concerns regarding your student loan debt, an expert bankruptcy attorney can give you the answers. Contact one today.
- Find Bankruptcy Lawyers Near You (FindLaw's Lawyer Directory)
- 5 Strategies to Manage Your Student Loans (FindLaw's Law and Daily Life)
- Legal How-To: Getting Student Loans Forgiven (FindLaw's Law and Daily Life)
- Now Parents Can Have School Loan Debt, Too (FindLaw's Law and Daily Life)
You Don’t Have To Solve This on Your Own – Get a Lawyer’s Help
Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.