How to get a student loan discharged?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
How to get a student loan discharged?
About 3 years ago, I attended a IT trade school to get microsoft certifications. I took out a private student loan to pay for this. At the time of my enrollment I was in the Army Reserves and half way through the class I was put on active duty orders for pre-deployment training. I was going to miss 3 weeks of classes and I tried to withdraw from class. I gave a copy of my orders to the school and they told me I would recieve a refund for my tuition. After the 3 weeks of training, I contacted the school to check up on my refund and they told me I was not eligable since I had already passed 1 of the 4 certification tests. I did not have time to persue my refund further for I was deployed to Iraq. When I returned home from Iraq, I found out that the school had since closed. A few months ago I found out that a class action lawsuit was brought against the school and the school and Sallie Mae. The ruling was in favor of the plantiffs but the school had no assets to pay out. The judge ruled that Sallie Mae could not be part of the class action lawsuit and it had to go through individual arbitration. My interst rate on my private student loan is around 9% and I want to refinance it to a lower interest rate. I was wondering if refinancing my loan would have any effect if I try to have my loan discharged and what are the chances of my loan being discharged? I really want to get out from under this loan as soon as possible.
Asked on October 22, 2012 under Bankruptcy Law, Missouri
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Under federal bankruptcy laws student loans are specifically exempt from being discharged under our bankruptcy laws. As such your thoughts of a bankruptcy filing as to your student loan will not help you in any manner. I suggest that you may want to consult with a consumer law attorney as to your matter as to the loan being refinanced.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.