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Student loan debt is growing with no direct debt relief

There are many people in Waco and across the country that could benefit from debt relief. From unexpected medical bills to sudden loss of employment, there are plenty of reasons that someone could be facing mounting debt. But there is one group of people who are stuck with debt almost before they have a chance. From the moment they first take out a loan, they begin a vicious cycle that could leave them in debt for decades to come.

College students across the nation are now facing a grand total of more than $1 trillion. This of course includes students in Texas. It weighs heavily on the minds of our future generations, as they wonder with every big purchase whether or not they will ever emerge from their crushing debt. After all, it’s not as though car payments or mortgage payments wait for you to resolve your student loan debt, as there is no form of debt relief available for student loans. The problem is even worse for those who seek higher education in graduate school. 

It is a cruel irony for many students who grew up in low-income households: they go to college to escape poverty, but live in poverty to pay off their excessive student loan debts. In the face of such circular problems, it can sometimes seem like the odds are stacked against you from the beginning. Fortunately, all hope is not lost. While there is no debt relief available for student loans, there are plenty of debt relief options that can free up your expenses to focus more heavily on paying back your student loan debt.

Whether you seek a Chapter 7 or Chapter 13 bankruptcy filing, there is an option that can fit your specific needs and give you the help you need to get a fresh financial start. 

Source: Daily News, “Americans owe $1.2 trillion in student loans, surpassing credit card and auto loan debt totals,” Dan Friedman, May 17, 2014

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