Legal Question in Civil Litigation in Florida
Student Loans - Not making clear the repayments?
In light of the governmant action against Sallie Mae, I was wondering if there are any legal ramifications to the financial aid advisors as a student. I was encouraged to take out thousands of dollars, almost totalling $80,000 in student loans, with the idea that I would be able to pay them back with the salary of my chosen major. No such luck, I know Sallie Mae is in trouble with the gov't on this, is there anything I can do to perhaps have my loans lessened or wiped completly?
1 Answer from Attorneys
Re: Student Loans - Not making clear the repayments?
You can contact your lender about deferment or reducing the payments if you can show financial hardship. Student loans can sometimes (but not often) be discharged in bankruptcy as well, but only if you can show financial hardship in repayment. If you feel that you were fraudulently induced into taking out loans or that the financial aid people were not forthcoming with the terms of the loan or how the repayment would work, you might have a cause of action against your alma mater.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
