Federal Student Loans
The Student Loan Issue:
For the average American, this is something that likely has come into your life in some way or another. Maybe you are still dealing with loans from a graduate degree that you took out later in life. Maybe you have “Direct Parent PLUS loans” that you took out to help get a child through college. Or maybe you are watching your grandchildren try to navigate the world whilst saddled with an extra mortgage attached to them. In any event, the body of law surrounding student loans is a ramshackle mess, put together piecemeal largely over the last four or so decades. Due to the nature of its creation, the student loan system is anything but intuitive or simple to navigate, and that difficulty may be leading to unnecessary anxiety or financial strain on you, your children, or your grandchildren.
Adding to the confusion – there are as many different kinds of student loans as there are models of cars out there on the road: Private, Stafford, FFELP/FFEL, PLUS, Direct PLUS, Direct Subsidized, Direct Unsubsidized, Direct Parent PLUS, and so on and so forth. Each of the different variations has different strategies allowable under existing law to mitigate the financial strain they place on families. Furthermore, over the past three years, a flurry of new laws have been implemented in an attempt to bring relief to individuals suffering under a strained economy. Some of these measures, and the more powerful strategies that we can employ have expiration dates set to end in 2024 and 2025, and further, may take several months to properly implement.
If you have FEEL/FFELP/ Direct Parent PLUS loans, it is particularly urgent that you speak to an attorney, as your window for obtaining relief under the most recent legislation is set to end December 31, 2023.
If you are not sure what type of loans you or a loved one has, schedule a consultation to have an attorney review the state of your loans.
Adding to the confusion – there are as many different kinds of student loans as there are models of cars out there on the road: Private, Stafford, FFELP/FFEL, PLUS, Direct PLUS, Direct Subsidized, Direct Unsubsidized, Direct Parent PLUS, and so on and so forth. Each of the different variations has different strategies allowable under existing law to mitigate the financial strain they place on families. Furthermore, over the past three years, a flurry of new laws have been implemented in an attempt to bring relief to individuals suffering under a strained economy. Some of these measures, and the more powerful strategies that we can employ have expiration dates set to end in 2024 and 2025, and further, may take several months to properly implement.
If you have FEEL/FFELP/ Direct Parent PLUS loans, it is particularly urgent that you speak to an attorney, as your window for obtaining relief under the most recent legislation is set to end December 31, 2023.
If you are not sure what type of loans you or a loved one has, schedule a consultation to have an attorney review the state of your loans.
Lower PaymentsOur attorneys have an intimate knowledge of this system and know how to ensure that you have a monthly payment that you can afford to meet.
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ForgivenessAs the student loan problem has ballooned, there are ever increasing avenues for people to receive forgiveness of the balance of their loans. Our attorneys can assess your situation, and see if there is a path forward for you to achieve forgiveness
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SettlementIf your situation has become unmanageable, and lower payments or forgiveness are not an option for you, we can work with your student loan company to try to reach a settlement so that you can get your life back on track.
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