$350 million in loan forgiveness up for grabs - Article from Yahoo Finance

Everyone knows student loans present a huge challenge. It is compounded when a person suffers extended unemployment or under employment, major medical issues, and/or a family break up. These are the issues that can send a person into bankruptcy. Unfortunately, bankruptcy rarely helps with student loans (see my blog Bankruptcy Discharge of student loans - Brunner Test)

Generally, the best first stop is the Department of Education website to check out the forgiveness programs available. The DOE recently announced guidelines for a new program:

"There’s $350 million in loan forgiveness up for grabs: how you can get those funds" 

by Jeanie Ahn, Senior Producer/Reporter, Yahoo Finance, June 1, 2018

"If you have a job in public service and you’re saddled with student loans – and have previously been denied loan forgiveness – a new program from the Department of Education may be your last resort.  

Last week, the DOE allocated $350 million in additional student loan forgiveness through a new program, Temporary Expanded Public Service Loan Forgiveness, or TEPSLF."

The guidelines are pretty tight but it may be worth a look if you are in public service. If these programs will not work for a person, bankruptcy may help. In many cases, bankruptcy can free up enough income to make the student loan payments bearable. 

If you want assistance, legal representation, or just want to know more about me, Mark M. Medvesky, or Wells, Hoffman, Holloway & Medvesky LLP, check out our website at www.whhmlaw.com.

 #bankruptcy Chapter7 #Chapter13 #MontgomeryCounty #lawfirm #BucksCounty #Pennsylvania