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Depending on the student load you have your rights and responsibilities are different. Federal and private student loans are govern using different regulations. Under the Federal Student Loan Program it is important to know which program you signed up with, and the type of loan you have.

Due to financial hardship, student loan fraud, and school fraud students very often find themselves in complicated legal situations where the federal or private collections perform procedures like:

  Tax refund intercepts
  Administrative wage garnishment
  Seizure of Social Security or other federal benefits
  Lawsuits with no statute of limitations
  Shockingly high collection fees
  Private collector harassment
  Sharp limits on bankruptcy discharges
  Bad credit records; and
  Ineligibility for new federal loans and grants.

All these procedures along with loan and school fraud require good legal defense in order come up with strategies to:

  Apply for financial hardship and other loan deferments
  Find affordable repayment plans
  Rights to stop tax intercepts, wage garnishments, and seizure of Social Security benefits.
  Legal claims against unfair or deceptive collection practices
  Loan discharges based on school closure, fraud, or failure to make owed refunds
  Discharge based on disability
  Strategies to deal with student loans in bankruptcy
  Minimize collection fees
  Trade school abuses and raising school misconduct as a loan defense.

Federal government has lots of ways and power to collect on student loan debt. They can seize tax refunds, deny new student loans and Grants, garnish wages without a court order, take a portion of Social Security benefits, and charge very large collection fees for the funds you owe.

Most "private" crimes can only be prosecuted for limited periods of time, but when it comes to federal assets there is no time limit for collection on Federal Student Loans.

The collection process starts soon after you miss a payment. The collection tactics get worse the longer you fail to pay. When you default the most severe consequences kick in.

There is a way to to be completely protected from government student loan collection. You will most likely be safe from collection only if you do not have significant federal benefits or wages. , or you do not get a tax refund, and you do not have any other collectible assets. Being safe from collection now does not mean you will be safe in the future. There is no time limit on government student loan collections, the debt may still come back to haunt you in the future.

Private Student Loans collection is different. There is a time limit for collection and private collectors do not have as many collection tools as the federal government. In some sense private student loans are better than federal loans when it comes to collection aspects, but on the other hand, federal loans are usually more affordable and have important borrower protections.

For more information on student loan repayment options please visit our Student Loans Repayment center.

Hidden away in the health care reconciliation legislation is landmark student loan legislation. Among other things, it makes federally subsidized and guaranteed student loans largely the province of the federal government, cutting out private bank involvement. The law also expands the ability of low and moderate income graduates to have their loans forgiven.

Please check out Student Loans Section for updates on student loans.

Even though student loan debt can not be discharged in bankruptcy directly, there are two exceptions to this rule that are worth wile exploring when bankruptcy seems like the only option.

We suggest you leave bankruptcy for the end and you should only use it if the other solutions are not working for you. In order to remove debt from you burden you declare personal bankruptcy and simply have the debt being forgiven. Personal bankruptcy requires lot's of work and paperwork, but if you need to do it, do it.

There are organizations in your state and in most communities which provide free legal help to people whose incomes fall below certain amounts. You may checkout Borrowers can find out Legal Services Corporation web site or call: 1.202.295.1500

In order to find out about legal services programs that are not funded by LSC, borrowers should check their local phone book or ask a local social services or consumer protection agency for more info. LawHelp.org helps low and moderate income people find free legal aid referrals. Court clerks often have information about legal services programs as well.

All state have Consumer Protection Agencies as well.