With college costs at an all-time high and a very weak job market, student loan defaults are skyrocketing according to an article in the Wall Street Journal. See http://online.wsj.com/article/SB124027600001437467.html#printMode. Some loans may qualify for deferment or forbearance where you may be able to reach an agreement with your lender to temporarily modify or even suspend payments. And unfortuneately, student loans are generally not dischargeable if you file bankruptcy unless you can show “undue hardship.” That is difficult but not impossible to show under the right circumstances. If you would like more information, please contact us.
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