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Student debt in Florida, nationally: slippery slope for millions

Student debt is indeed a strange animal. On the one hand, it is a flat necessity for millions of people across the country, including in Florida, with students willingly taking on debt and perceiving it as a prime catalyst that helps fuel their dreams.

In other words, and for most students, the debt is an integral part of their schooling and helps them realize their aspirations. Without signing those loan documents for a several-year period, education after high school is simply an illusory concept for high numbers of people who value education and the doors it opens.

On the other hand, though, that debt onus is a long-lasting obligation that operates as an anchor for many students following graduation. It is hard these days for readers to not see recurrent references in media stories to the delimiting effects of crushing debt levels on graduates.

As we have noted in past select posts, student debt is not as readily discharged through bankruptcy as are other types of unsecured debt, such as credit card balances and medical bills.

Notwithstanding its distinct characteristics, though, it is necessary to note that student debt obligations do not operate in a vacuum when examined alongside other sources of debt. That is, debt is debt to most consumers; it must all be dealt with, regardless whether creditors are medical care providers, credit card issuers or student loan lenders.

And thus, it is the cumulative amount of debt that is of most concern to debtors, which leads to this observation: Even if student loan debt is ultimately found to be nondischargeable through bankruptcy, other types of debt can be erased. Realizing debt relief on those obligations can have a salutary effect going forward on any post-graduate borrower who must continue dealing with loan repayment duties for completed schooling.

An experienced debt relief attorney can provide candid and confidential information regarding financial challenges and purposeful ways to deal with them.

Source:, “Report: Student loan debt makes graduate net worth 7 times lower than non-borrowers,” Brian Smith, May 19, 2014

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