Legal Question in Credit and Debt Law in Pennsylvania

Student Loan

I tried to have my student loan forgiven, it originated in 1974, all the current programs came after my my loan. I was told I can't seek relief because my loan was not ''grandfathered'' do I have any choices, in this matter or let them take my income tax each year. The loan has aged to 37 yrs..


Asked on 10/30/07, 10:24 am

1 Answer from Attorneys
Roger Traversa Arjont Group (Law Office of Roger Traversa)

Re: Student Loan

You asked about student loans.

Wow. 37 years is a long time. It depends on what the situation is and what amount is claimed due.

If the amount claimed due is substantial then you should seek legal assistance to get the loan discharged. It's not easy but is more available than the lending industry would have the public believe.

Otherwise you should seek to minimize your tax returns so that they can only grab a small amount each year. It is essentially a no interest loan to the government whenever you allow them to hold more than you actually owe in taxes. You should investigate this issue with your accountant to see if you can get your pay deductions to more closely mirror the amount you are likely to owe.

Regards,

Roger

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Answered on 10/30/07, 11:37 am


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