Student Loan Debt

Education is an essential component of being an individual. Nobody can ever underestimate the power and privilege of being educated, let alone in good universities. Apart from that, the knowledge inculcated is priceless, which is why many students get into universities through student loans which help them with their tuition expenses. However, there is a tendency to get stuck in it; this is where a student loan debt attorney from Georgia comes in handy to explain the student loan law to you. 

Recently, enrolment and tuition fees have been skyrocketing, prompting many students to get student loans. While student loans are of great help, there is also the other side, which poses a great financial risk, which students can find themselves in situations of undue hardship trying to pay for loans after they’ve graduated. However, the student loan debt system can be quite complicated and many find themselves trapped in a cycle of working in order to fulfill repayment plans. 

Seasoned Rome, Georgia Student Loan Debt Attorney

Are you struggling to pay off your private student loans? Have you currently been living an unfulfilled life working just to pay off a loan from years ago? Don’t fret! Kelly can help! Get in touch with the Georgia bankruptcy attorneys at the Law Office Of Jeffrey B. Kelly to help set your bankruptcy matters straight. The Rome, Georgia student loan debt attorney can walk you through the process of student debt, be it federal or private student loans in order to help you get your life back on track. 

Why do I need a Student Loan Debt Attorney in Georgia?

When going through student loan debt or any kind of bankruptcy, it isn’t advised that you go through it alone. A student loan debt attorney in Georgia can help you navigate the process of both federal and private student loans and ensure that you get the best possible results that can help you get back on your feet again. 

When struggling with any form of bankruptcy from student loans to credit card debt, enlisting the help of a seasoned bankruptcy attorney can be a great advantage. Not only does the attorney have the skills and expertise in the field, but an attorney can also provide legal counsel and advice on the next best move to ensure a favorable outcome. Schedule an appointment with a student loan debt attorney from Georgia right now. 

Get in touch with a student loan debt attorney in Georgia from the Law Office of Jeffrey B. Kelly. The attorney has over two decades of legal experience in the field and is experienced in giving personalized debt relief solutions to each case. The attorney also offers direct communication and counsel during your bankruptcy case and will fight for you should the need arise. 

Don’t spend your years drowning in student loan debt. Talk to a student loan debt attorney in Georgia right now to help get right back on track. 

What is Student Loan Debt?

Student loans are a way to help students accomplish and finish their education despite financial limitations. Given that in today’s climate, enrollment and tuitions continue a steady rise, student loans provide opportunities for everybody. However, student loans aren’t without a financial risks. A student who takes out a loan to pay for college tuition can find themselves buried in mountains of student loans, working just to pay them off. 

There are two kinds of student loans and a complex process that comes along with it. Learn the ins and outs of student loan debt below and see how a student loan debt attorney from Georgia can help you. 

What is the Difference Between Private and Federal Student Loans?

Before getting into the nitty gritty details, one must first understand the two kinds of student loans. Student loans are issued by the federal government which also backs the school or private lenders. Federal loans have lower rates and their payment options are more flexible. Private loans on the other hand cost more but have other options for borrowers. 

Federal loans have a lower interest rate compared to private loans. Private lenders have lower rates but these are only offered to variable interest rate loans, which hike under broader interest hikes. Private loans also require a co-signor.

What are Administrative Discharges?

Administrative discharges of a federal student loan is an option for certain borrowers that is non-bankruptcy. This differs from bankruptcy discharge in plenty of ways. 

The following are examples of non-bankruptcy administrative discharges:

• Total and Permanent Disability Discharge- If the individual in question becomes permanently disabled, rendering them unable to work and earn money, they can qualify for non-bankruptcy administrative discharges, especially if the disability has lasted for 60 months or longer. 
• Closed School Discharge- Due to the rampant closing of schools, there aren’t any places left to transfer credit. If the school has closed down, you can qualify for a non-bankruptcy administrative discharge if you are on an approved leave of absence or have been withdrawn for 90 days. 
• Military Disability-Veterans can qualify for a military disability non-bankruptcy administrative discharge which would need documentation that you are disabled and hence unemployed. 
• Death-The deceased borrower’s loans will be discharged with proper documentation. 

What Happens if You Default on Student Loans?

Defaulting on student loans has consequences for the student. Usually, certain steps are taken by the government if ever there are missed payments on a federal loan, including: 

• Tax Refund Offsets
• Social Security Intercepts
• Payment Garnishment
• Loans Placed With Collection Agencies
• Revocation of Professional Licenses
• Legal Action
• Losing Eligibility for Deferment, Repayment Plans

If you are encountering legal problems involving student loans, it is best to get in touch with a student loan debt attorney from Georgia to help smoothen matters out. 

Call our Georgia Student Loan Debt Attorney Now!

Student loan debts plague plenty of students seeking an opportunity to pursue an education. Student debt loans can sometimes take a long time to repay and most find themselves working to pay these off. If you are having a tough time dealing with student loans, know that it is best to get in touch with a student loan debt attorney from Georgia who can help you navigate the process. 

Enlist the help of an attorney from The Law Office of Jeffrey B. Kelly. With over two decades of experience, the student loan debt attorney can analyze your case, offer quality representation, and fight for you in court should the need arise. We have offices in Rome, Dalton, Kennesaw, Cartersville, Dallas, and Marietta, Georgia.

Don’t go through student loan debts alone. Schedule an appointment with the Law Office of Jeffrey B. Kelly right now.