Student loans: What can be done

Many people have student loans that they have trouble paying. I am often asked what can be done about student loans.

It is extremely difficult to get student loans discharged in bankruptcy. Therefore, most people need to look at alternatives to bankruptcy to address their inability to afford their loan payments.

Following is a group of links to websites where you can get basic information about the limited options available for reducing student loan payments.

– The first grouping of links leads to web pages about Income-Based Repayment (IBR):

Description of Income Based Repayment

Income Based Repayment Questions and Answers

More Q&As about Income Based Repayment

Income Based Repayment info from a non-profit

– The second link takes you to a website that discusses Income Contingent Repayment (ICR):

About Income Contingent Repayment (scroll down)

– The third grouping of websites is about other flexible payment options:

Repayment Plans

More about repayment plans

Repayment relief

– Finally, here is a website with information about consolidation loans:

Student Loan Consolidation

Photo by Chris Radcliff

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