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Friday, April 27, 2012

Undue hardship and student loans.

Recently, Lee Pacchia of Bloomberg Law and I talked about how bad the student debt load problem is getting (here). 

Although the issue of getting an "undue hardship" discharge of a student loan is not quite as bad as I glibly said in the podcast, it's still pretty dire.  Before you borrow, pay attention to whether you'll be able to pay off those loans.  If you're not likely to (a) pass the bar and (b) get a job that will help you eat and pay rent/mortgage while you're paying off the loans, don't go to law school until you've saved up enough money for tuition and expenses.  Period.

There are some great articles out there that will walk you through just how difficult it is to discharge your loans.  See here, here (the student note on undue hardship), here, and here, for starters.

1 comment:

  1. So glad to hear it's worth the effort it takes to pull these together.


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