Student Loan Discharge Is Real The Rules Have C...
Student loans can now be discharged and erased. That's true, and it's happening right now under federal law. I'm Anthony Jay Perrano, and I'm a federal court attorney. In 60 seconds, I'm going to explain why a 25-year student loan payment plan does not have to be in your future. First, under the new DOJ process, you file a petition with the court. That's a simple legal vehicle. It opens the door to review. As part of the process, there's a Department of Justice Review form that you complete. Most borrowers have never heard of it, but it exists and it's streamlined. On the form, you're going to list your real-life expense numbers, your income, rent, food, family costs, and you're going to demonstrate financial hardship. Now, financial hardship means that you cannot pay your basic living expenses and make your student loan payments at the same time. And in today's economy, for many borrowers, it's not hard to prove. The government attorneys will then review the information.
Summary
Student loans can now be discharged through a new federal process. Borrowers must file a petition and demonstrate financial hardship using a specific form.
Key Points
- Student loans can be discharged under new federal law.
- File a petition with the court to start the discharge process.
- Complete a Department of Justice Review form for your case.
- List your income and expenses to demonstrate financial hardship.
- Financial hardship means you can't cover basic living costs and loans.
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Repurpose Ideas
- LinkedIn post: Steps to file for student loan discharge
- Tweet: Key points on proving financial hardship for loans
- Checklist: Complete the DOJ Review form for loan discharge
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