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Personal Finances / Paying Back Student Loans


Subject:  Re: Insurmountable Student Loan---help! Date:  2/22/2006  6:40 PM
Author:  linanil Number:  4116 of 4855

From what I can tell, discharging the loan through bankruptcy is basically the same requirements as the ICR plan. Basically have to prove that paying back the loan would cause an undue hardship. Although that may only get part of the loan discharged not all of it.

I count myself lucky in that I didn't have too much student loans, mostly because my parents told me I had to pay for school myself and they weren't helping. As a result, I had to look for various options on paying for school and living as cheaply as possible. Unfortunately, I didn't carry that lifestyle after graduating, but figured I could spend more, which ended up in credit card debt.
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