• All About Student Loans
•  10 Best Student Loan Options
• Government-Student-Loan-Consolidation.
• Student Loan Consolidation Can Help
• Applying For a Student Loan
• Is A Student Loan Consolidation Right For You
• Are You Ready for Your Student's Student Loans
• Loan Options for College Students
• The Facts About College Financial Aid
• Student Loan and Student Loans
• Why Student Loans are Better Than Credit Cards
• Consolidating Your Government Student Loans

• Thinking Of Co-Signing For A Loan Read This First
• Need Help Paying Back Student Loans
• Student Loans – Ensuring a Brighter Future Ahead
• Student Loans Are The Life Preserver Of The Education System
• Bad, Credit, Student, Loans - Disjointed They Don’t Make Sense - Join Them and See the Possibilities
• Dos and Don'ts: Student loans
• Federal PLUS Loans
• How Bankruptcy Affects Student Loans
• If I File for Bankruptcy Will My Student Loans Get Discharged
• Student Loan Limits Not Keeping Up with Tuition Rates
• Student Loan 101 Get Money and Get a Degree
• A College Loan Will Finance Your Education!
• College Expenses Seven Ways to Save on an Education
• UK Student Loans Explained
• Federal Debt Consolidation Loans For Students
• What Students and Parents MUST Know about Student Loans
• Are Student Loans Better Than Credit Cards

If I File for Bankruptcy Will My Student Loans Get Discharged? By Tim S
So are student loans able to be discharged? In short, probably not. Student loan debts are nondischargeable in Chapter 7 Bankruptcy cases unless paying the debt would cause the debtor "undue hardship." This basic rule also applies to Chapter 13 Bankruptcy cases.

Discharge of student loans received popularity in the 1970's. Many individuals would file for bankruptcy shortly after completing their expensive education. The goal was to discharge these student loans before they began earning money.

The wording of the exception of a “hardship discharge” and what is considered a student loan has recently been broadened so that most student loans made by nonprofit groups or the government are now considered student loans. This only applies to the actual student and not a co-signor. So a parent signing for one of their children could not have this debt discharged. In addition, this exception does not include debts to an educational institution for tuition. If the loan is nondischargeable then the petition on the loan is also not going to be discharged.

So we turn to "undue hardship." Most published court opinions agree that "undue hardship" means more than garden variety hardships that come with the costs of future payments. Several circuit courts of appeals have developed a three-prong test.

In summation, the debtor cannot maintain a minimal standard of living and his dependents are left with the debt, some additional circumstances in regard to the standard of living would extend over the life of the repayment of the loan, and the debtor has tried to the best of their ability to pay off the loan according to the plan.

The ideal debtor who will successfully discharge student loans are the low-income debtors. The debtor has the burden of proving their hardships. Any reason that makes this loan impossible for the debtor should be made known to your attorney. For example, unemployable debtors, underprivileged debtors, a total lack of available jobs suited for the debtor's skills, certain disabilities, etc. If any of these situations exist, your attorney will strive to prove any extenuating circumstances to the court to get these student loans discharged.

Read more about bankruptcy at www.bankruptcyhome.com

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