06.06.2013 | by Ken Steidl
I met with a potential client who had recently completed seven years of college, which included three years of graduate school. He graduated with more than $300,000.00 worth of student loan debt and was having great difficulty finding a decent job. More than six months had elapsed since he had graduated, and so the student loan creditors were demanding huge monthly payments on this enormous debt. He came to see me to discuss his options. The first option we discussed was Chapter 7, which allows a person to discharge student loans if they can prove that the repayment of these loans would be a substantial hardship.