Jump to navigation Jump to content

Bankruptcy Shift to Allow Discharge of Student Loans – Would it make a big difference?

Bankruptcy Shift to Allow Discharge of Student Loans – Would it make a big difference?

The short answer is no. Here’s why… If laws are changed to what they are considering it would only affect private student loans. 85% of student loans are government student loans meaning that they would not be discharged anyways. So then 15% of student loans could be discharged? Not quite.

Many private student loans, are parent co-signers or some other person as a co-signer. That means that not only the student, but also the person whom co-signed for the loan, would have to file bankruptcy in order for the loans to be discharged. The chances of both people filing bankruptcy to get rid of the debt is unlikely. Therefore, the only result would be students who have private loans that are not co-signed by anyone else. That pool of people is drastically smaller than originally suspected.


For Current Clients



Our Locations

St. Charles Office

1861 Sherman Drive
St Charles, MO 63303
Phone: 636-916-5400

At Hwy 94 and Hwy 70.

Get Directions | See Detail

St. Louis Office

3470 Hampton Ave, Suite 101
St. Louis, MO 63109
Phone: 314-353-0834

Close to the corner of Hampton Ave and Chippewa. By appointment only.

Get Directions | See Detail

South & Jefferson County office

7321 S. Lindbergh Ave., Suite 222
St. Louis, MO 63125
Phone: 636-916-5400

Across the South County Mall.

Get Directions | See Detail

Florissant Office (North County)

1281 Graham Rd, Suite 300
Florissant, MO 63031
Phone: 314-921-1880

At North Hanley and Hwy 270.

Get Directions | See Detail

Belleville Office (St. Clair county)

2 Park Place Professional Centre
Belleville, Illinois 62226
Phone: 618-977-9560

On Hwy 159, next to Schnucks.

Get Directions

Granite City Office (Madison County)

3600 Nameoki Rd, Suite 201
Granite City, IL 62040
Phone: 618-977-9560

Across Shop'n Save, by appointment only.

Get Directions | See Detail

Follow Us On