Is there any way to eliminate student loans?

I will likely have over $100,000 in student loans when I graduate and that will absolutely be impossible for me to pay off. Is there anyway for bankruptcy to eliminate or mitigate student loan debt (mostly private loans, not federal)?

Asked on June 30, 2012 under Bankruptcy Law, Colorado

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Under federal law, no student loans (federal, state, private or public) may be discharged in a bankruptcy filing by the debtor. In a re-organization filing, a student loan may possibly be re-structured to allow for monthly payments that the debtor can now afford.


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