Last week the U.S. Department of Education announced their latest move to assist some individuals with financially debilitating student loan debt.  This part of the Obama Student Aid Bill of Rights, is directed at hundreds of thousands of borrowers who are permanently disabled and cannot work.  The Department of Education started sending out letters this week to student loan borrowers that have been identified, with the help of the Social Security Administration, as receiving disability payments and are eligible to have their student loans discharged.  This type of student loan relief is known as a “Total and Permanent Disability” loan discharge. There were 387,000 permanently disabled individuals identified, with nearly half of these currently in student loan default, as qualifying with an estimated $7.7 billion in student loans.

Tuesday, 01 July 2014 07:02

Student Loan Debt Overview

free-advice-btnAre you struggling under the weight of a student loan? You’re not alone.

Student loan debt cripples many student loan borrowers, including recent graduates. Many leave college with thousands of dollars in student loans. Even with a steady job, it can be difficult to meet student loan repayment obligations. Others struggle for years in an attempt to manage the student loan debt.

Attorney D.J. Rausa is committed to helping clients develop a payment plan they can manage. He can also determine if a student loan might cause the debtor "undue hardship." This can be used as an exception to the student loan repayment requirements.

In San Diego, attorney D.J. Rausa helps clients obtain relief from student loan debt. He has more than 20 years of experience. He is committed to making sure everyone has a chance to obtain student loan debt relief. Contact us for help addressing your student loan concerns.

Types of Student Loan Debt

Students may have received federal student loans or loans from private companies – many students use a combination of both to get through school.

Many students have also turned to parents, grandparents or others to either take out the loan or co-sign for it. Either way, this makes the parent a student loan borrower.

Federal Student Loans:

Because so many students have gotten in over their heads with excessive student loan debt, the federal government has developed a whole host of options available to address Federal Student Loans. These types of loans are subject to programs offered by the U.S. Department of Education.

To find out what Federal Student Loans you have, go to the National Student Loan Data System, www.nslds.ed.gov, to get your report. This report contains vital information in evaluating what the next step will be to address your Federal Student Loans. If a student loan is not on this report, chances are the loan is a private student loan.

Once this information is reviewed, Attorney D.J. Rausa will be able to determine what the best options are.

Private Student Loans:

Private Student Loans are NOT subject to any Federal Student Loan Program. Therefore, they have to be addressed in a completely different manner.

Options for Private Student Loans are very limited, however Attorney D.J. Rausa may be able to negotiate favorable terms of repayment. The factors widely vary from lender, servicer, and collection agency. Therefore the results also vary.

If favorable terms cannot be reached, then a Chapter 13 Bankruptcy is an option that can be exercised to force the Private Student Loan lenders to accept an affordable payment.

Bankruptcy and Student Loans

There is a common misperception that once you take out a student loan, you are obligated to pay it all back no matter what. This is not entirely true. While some student loan debt may not be discharged through bankruptcy, The Law Offices of D.J. Rausa may have ideas to help you reduce or discharge your debt.

However, it is important to note that the process of discharging student loan debt differs from the process of discharging other types of debt and will require a detailed analysis of the type of student loan as well as the history of the loans.

Student loan debts are not automatically discharged through Chapter 7 bankruptcy. The Chapter 13 bankruptcy process can be used to restructure your student loans into a more manageable monthly payment. Attorney Rausa offers comprehensive Chapter 13 bankruptcy solutions to help you set up a payment plan to pay down your debt, including your student loans.

Chapter 13 repayment plan can last for as long as five years. Attorney Rausa will develop a feasible plan for you in order that some percentage of all your debt is paid. During the pendency of your case, you will be protected from any and all collection activity; this includes the IRS and any student loan collection agencies or servicers.

Discharging Student Loans: Proving Undue Hardship

Sometimes student loans can be forgiven when the borrower is shown to have endured “undue hardship,” such as:

  • Disability preventing your ability to work
  • Fixed income with no possibility of a salary increase
  • Family issues preventing you from earning a living
  • Totality of your financial circumstances

Attorney Rausa is prepared to address all of your questions regarding undue hardship.

Find out more about these related topics:

Contact a San Diego Lawyer

Contact us by e-mail or call toll free at (619)295-3322 to see if you qualify for the hardship exception, or if reorganizing your payment plan is a better option. A free initial consultation is available with an experienced San Diego student loan debt relief lawyer.

Free Initial Consultation * Available Evening and Weekend Appointments

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Published in Overviews

 On January 27, 2016 the Federal Trade Commission filed a lawsuit against DeVry University alleging the for-profit school deceived prospective students by exaggerating post-graduation job prospects. This constitutes a violation of the FTC Act and the complaint asks the court to provide redress to consumers and prohibit DeVry from further violations.  Additionally, the U.S. Department of Education (DE) has taken separate action to require DeVry to stop deceptive advertising claims regarding its graduates’ employment success and to implement procedures to insure the truthfulness of post-graduation employment claims. These enforcement actions may open the doors for DeVry graduates to request student loan debt relief. 

Published in DeVry
Tuesday, 09 February 2016 00:00

Closure of Marinello Schools of Beauty

Marinello Schools of Beauty operates 56 cosmetology schools across five states, including two locations here in San Diego (Miramar and El Cajon).  On February 4, 2016 Marinello suddenly shut down all of its locations leaving 4,300 students unable to continue their education and 800 employees out of work.

 The sudden shut down came after the US Department of Education denied recertification of Marinello’s eligibility to participate in federal student aid programs.  According to the Department of Education website, Marinello was notified on February 1, 2016 that its participation would end effective February 29, 2016.  Three days after Marinello received this notification, it shut down all locations.

Published in Marinello
Tuesday, 04 August 2015 00:00

University of Phoenix Under Investigation

On Wednesday, University of Phoenix's parent Apollo Education Group announced that the business and marketing methods of the for-profit school are now under investigation by the Federal Trade Commission (FTC). CNNMoney.com reports that Apollo will "cooperate fully" with the FTC research, which requires them to provide the federal company with papers on their finances, advertising, certification, and army recruitment practices from the last four years.

Published in University of Phoenix
Thursday, 14 May 2015 00:00

Student Loan Resolution

Defaulted Student Loans? The clear path to Default Resolution

According to The Consumer Financial Protection Bureau, there are 8 million student loan borrowers in default.*  If you are one of those, you may be asking yourself , How did I get here?

My experience with working with those clients who have student loans has shown me that student loan default could have been avoided had their servicers been forthright with the information they needed to prevent default, and options for student loan default resolution. In the majority of cases that I have seen, the services play hide and seek with vital information, leaving the student loan borrower confused.

Published in Student Loans

As of May 10, 2015 the NSLDS report access system was changed. You will need to Log onto NSLDS.ED.Gov  by using your User Name or Verified E-mail address and a Password.

1.     If you have already set up your access with your User Name or Verified E and Password, simply log on and follow the instructions below.

2.     If you have not set up your access, then click on the “Create an FSA ID” tab and follow all the steps to create your FSA ID.

a    You will get an e-mail asking you to verify your e-mail address

b    You will hear back from FSA once they verify your information with the Social Security Office. This should take a day or two.

c    Once everything is verified, follow the directions below.

The starting point to begin an analysis of any Student Loan issue is to obtain any and all information that the U.S. Department of  Education has regarding all Federal Student loans that pertain to you.  Attorney D.J. Rausa needs this information to be able to explain any and all options.

If you have obtained a Federal Student Loan anytime during your life, then the information is available at the National Student Loan Data System, or, NSLDS. This report will provide vital information regarding what type of Federal Loans you have obtained, the status of those loans, who the current servicer of those loans are, and who the lenders are.

From this website, Attorney D.J. Rausa will need two things.

1)    The summary of all your loans will be the first page you see.

2)     The detail report on all your loans.

The number of each loan will be listed on the left hand side of the summary page. The numbers  are hyperlinks to all the details of each of your loans.  Simply click on the number and the details of the loan will be the next screen. I will need all pages for each of these individual loans.

In the center of each page, there will be a Download button. DO NOT DOWNLOAD unless you want 75 pages of information in a txt format, I do not.

Simply Print/save as a PDF, of all pages. This is what D.J. Rausa wants to review and it will be used to discuss and evaluate your circumstances.

I look forward to reviewing this report with you and assisting you with the management of your Student Loan debt.

Published in Recent Articles

GraduationToday, 71% of students graduating from 4 year colleges have student loan debt.  According to The Project on Student Debt, the average student loan debt for a college graduate is $29,400.  However, student loan debt is not only a problem for recent graduates.

In recent years, there has been a sharp increase in the number of older Americans who have student loan debt from financing their own education or the education of their children.  As of 2013, people over the age of 65 had $18.2 billion in outstanding student loan debt.

If you have student loans and are approaching retirement, it is important to know that your social security benefits can be garnished by 15% for defaulted federal loans.  In 2013, more than 155,000 social security recipients had their benefits garnished due to student loan debt, as discussed by US News & World Report.

If you have federal student loans in default, there are programs available to rehabilitate your loans, get them out of default, and into an affordable repayment plan.  Our office can help you figure out the best way to tackle your student loan debt and protect your future social security benefits.  Contact us to schedule a no-cost consultation to find out how we can assist you.

Read More about Student Loan Debt Relief | Teacher Student Loan

Published in Recent Articles
Thursday, 21 August 2014 00:00

Student Loan Debt Relief

Student Loan Debt Relief

If you are a student that has Federal Student Loans, you may qualify for a variety of the student loan forgiveness programs that are available to to you. You can start today and enter into a loan forgiveness program and begin the road to your financial freedom!

Learn More about Student Loan Debt Relief

Contact us today to learn about student loan debt relief. Every consolidated loan has forgiveness attached at the end of the loan term. At the end of the consolidated loan's term, any unpaid balance will be forgiven by the Department of Education. There are many repayment options in the Obama Student Loan consolidation program, and there are provisions which allow for an early forgiveness or principal reduction many consolidated loans.

tagged: student loan debt relief, student loan debt relief california

Thursday, 21 August 2014 00:00

Student Loan Relief

Student Loan Relief

Debt among pupils features reached astonishing levels in current many years. While a great deal of a young person’s debt is in the form of pupil loans, youthful adults are also plagued by car loans, mortgages and overwhelming amounts of credit card debt.

Credit card financial obligation is quickest growing among youthful grownups aged 18 to 24. From 1982 to 2011, credit card debt among this demographic more than doubled. In the same time frame, credit card financial obligation among 25- to 34-year-olds increased more than 50 percent.

And studies show that debt just increases from here. The best method to curb debt later in life is to find out debt management methods early. Debt decrease strategies like debt settlement can assist you spend down outstanding debts now so you can live debt-free later on.

student loan relief | student loan debt relief | student loan debt relief california

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Thank you DJ!

I had no idea where to start with my bankruptcy and process. After my first meeting with DJ I felt confident that things were going to go well. He helped guide me through the entire process and time. 

He's very professional and courteous, thorough and extremely knowledgeable. 

I would recommend anyone that needs a bankruptcy lawyer/ student loans. 

Don't have a second thought when choosing DJ Rausa!

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Posted by a client - February 15, 2016

AVVO Lawyer Rating is Superb!

Respected Legal Source

D.J. Rausa interviewed by the Wall Street Journal for article on Bankruptcy and Student Loan Debt.

D.J. Rausa is recognized as a legal expert in Student Loan Debt Resolution and the associated Bankruptcy Laws.

Read what D.J. recently told The Wall Street Journal regarding the probable rise in Student Loan Debt Resolution through Bankruptcy.

Client Testimonial

To whom it may concern,
Mr. Rausa is extremely knowledgeable with the complexities of Federal Student Loans.
I went from a thriving career to full medical disability, ending with an SSDI placement. Unfortunately, I lost everything and became unable to continue making the student loan payments, so it was in deferment for over five years. When the SSDI settled I tried to negotiate an affordable payment plan with the loan holders but they refused my efforts, instead demanding over twice the amount I could afford.
I contacted Mr. Rausa and found him to be courteous, responsive and quick to assess my situation. He was sure he could help and took time to answer all questions, which relieved much anxiety. Within months he successfully resolved the debt! With much confidence, I highly recommend Mr. Rausa.
Please contact me if you have any additional questions.
Sincerely,
 CJWaldenSignature
CJW
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