William H. Oliver, Jr. & Associates
Call today for a free consultation
Local 732-988-1500


Students asking for government help to reduce debt from loans

We have written extensively in previous posts about the difficulties many students in New Jersey and elsewhere are having with the enormous amount of debt they have when they complete their college education. Students leaving college with five- and six-digit student loan debts are in need of debt relief, but many of them are unable to achieve it through Chapter 13 or Chapter 7 bankruptcy because of the rules pertaining to how student loans are treated in bankruptcy proceedings.

Now, a group of students and former students from around the country have banded together to take their plea for a fresh financial start directly to the government officials who oversee the student loan programs and the schools that most of the students in the group attended. The members of the group have refused to make payments on their loans in protest of what they perceive as the government's failure to protect them from unscrupulous practices by some schools that left them deeply in debt with useless college degrees.

While government officials have expressed sympathy for the financial challenges faced by members of the group, they have not taken as action to discharge the loan debt, reduce interest payments or take other action that would offer debt relief to those burdened by student loan debt. For some individuals confronting similar financial challenges, a consultation with a bankruptcy attorney might be of some assistance.

Although discharging student loan debt might not be possible for most people filing a Chapter 13, a payment plan that offers them manageable payments might help them afford the payments on the student loans. Discussing with an attorney the benefits that a Chapter 13 bankruptcy might offer toward achieving a fresh financial start might offer hope to someone who has otherwise given up hope of being able to reduce debt.

Source: My 9 NJ, "Loan recipients on 'strike' meet with federal officials," Kimberly Hefling, March 31, 2015

No Comments

Leave a comment
Comment Information

Get A Free Lawyer Consultation

With offices in Toms River and Neptune, attorney William H. Oliver is ready to answer your questions and help you find the right debt relief solution. Evening and Saturday appointments are available. Call local: 732-988-1500 or fill out our contact form.

Email Us For a Response

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Toms River Office
609 Main Street
Toms River, NJ 08753

Fax: 732-775-7404
Toms River Law Office Map

Neptune Office
2240 State Route 33
Neptune, NJ 07753

Phone: 732-341-1550
Fax: 732-775-7404
Neptune Law Office Map

visa, master card, american express, discover network