Are College Students Falling Deeper Into Debt? | McCarthy Law PLC
July 19, 2012

Are College Students Falling Deeper Into Debt?

Student loan debt has been in the news for the past several months.  It’s a hot topic and deserves attention. As this article points out, college students are following in the footsteps of their parents, falling deeper and deeper into debt.

This article points out that students graduating with debt will face difficult times ahead.  Most important, it may prove harmful to our economy in the future.  Students strapped with credit card debt and student loans will likely have to put off many of the rites of passage such as marriage, home ownership and having children.

In our debt settlement practice we often run into individuals that are already suffering these difficult times.  What many people don’t realize is that there is help available to you not only for your credit card debt, but also for your student loans.  We have found that student loan lenders are becoming more willing to sit down at the negotiating table to workout a solution that benefits both parties.

Although you are unable to discharge your student loan in bankruptcy, it is possible to settle with your lender for less than what is actually owed.  Rather than being a part of our economic problem, you should look into helping our economy grow in the coming years.

If you find yourself behind in your student loan payments and/or the credit card debt you racked up in college, I would suggest that you consult with an attorney that focuses on negotiating for large reductions in unsecured debts such as credit cards and student loans.  You might be pleasantly surprised with the results and come out paying much less than what you actually owe.  I can’t think of a better way to help boost our economy.

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