East Orange: 973-677-9000
Paterson: 973-247-9445
Jersey City: 201-659-6226
Toll Free: 888-827-5493
FREE Initial
Consultation Se Habla Espanol
Go to Practice Area Categories

Strategies from a bankruptcy law firm for managing student debt

In several recent posts, we’ve discussed how student debt might be dischargeable in a bankruptcy case if an undue hardship showing is met.

However, that provision is not easily met. If extenuating circumstances are not present, a new graduate may find his or her debt to be unmanageable. In fact, as we note on our website, Chapter 7 generally does not eliminate school loans, nor stop the interest from accruing. 

Nevertheless, bankruptcy laws can still help struggling graduates. Debt collectors can be extremely aggressive, and a filing may provide some breathing room. We also offer strategies to help borrowers in default on their student loans. One option might be loan cancellation pursuant to a federal program. Another option might address repayment adjustments, such as loan consolidation or a loan deferment or forbearance. 

There may also be work programs that provide some relief. In a recent regional example, local lawmakers established a loan authority that is able to provide low interest rates to residents. Typically, a local governmental entity can refinance loans by tapping into the proceeds from tax-exempt bonds, and then using that tax-free revenue to lower interest rates. The county in this particular instance passed the legislation as a way of attracting recent graduates to relocate to their area, refinance their student loans and experience a lower cost of living.

Notably, this example is not isolated: a handful of states across the country have passed laws that provide for refinancing of student loans. As a law firm that has helped many individuals struggling with debts to review their options, we are familiar with such strategies.

Source: Washington Post, “Maryland county wants to ease the burden of student debt for its residents,” Danielle Douglas-Gabriel, Dec. 13, 2015

No Comments

Leave a comment
Comment Information


Tell Us About Your Case

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.



  • NACBA | National Association of Consumer Bankruptcy Attorneys
  • NACA | National Association of Consumer Advocates
Review Us
Goldman & Beslow, LLC

Goldman & Beslow, LLC is a Federal Debt Relief Agency by an Act of Congress. We have proudly assisted consumers seeking relief under the U.S. Bankruptcy Code for over 38 years.

FindLaw Network

qr code

7 Glenwood Avenue,
Suite 311B
East Orange, NJ 07017
East Orange Law Office

Phone: 973-414-8069
Phone: 973-419-7631
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
Fax: 973-675-5886
E-mail the firm

NEWARK OFFICE 168 Bloomfield Avenue
Newark, NJ 07104
Newark Law Office

Phone: 973-483-1333
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

PATERSON OFFICE 100 Hamilton Plaza,
Suite 405
Paterson, NJ 07510
Paterson Law Office

Phone: 973-247-9445
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

JERSEY CITY OFFICE 26 Journal Square,
Suite 603
Jersey City, NJ 07306
Jersey City Law Office

Phone: 201-659-6226
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

Back to Top