College Friends

Student Loans

Student Loan is the largest debt in the United States. It is actually higher than consumer debt. Unlike consumer debt, student loan debt will not go away through bankruptcy or default. In response, there are new government programs that reduce student loan monthly payments and can even forgive a portion, if not all of the debt. The debt reduction is based on income, family size and state economic levels. There are additional benefits for those who work in a public service job, are disabled or unemployed.

Unfortunately, most people are unaware of this significant help. We have aligned ourselves with a law firm who has launched a new student loan division focused on helping with the country’s massive student loan debt issue. The goal with the service is to provide the lowest monthly payment and as much principal forgiveness as possible.

The process is simple to start. Our specialist provides a free analysis to determine the maximum benefit available. Should the individual wish for their help, their specialized team can literally complete the process in 30-45 days.

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The government has recently introduced new programs to provide student loan assistance. In the past, student loan assistance has been extremely limited, and the idea of student loan debt forgiveness was almost non-existent. It was something of an urban legend—everyone had heard that student loan forgiveness might be available for some people, but no one ever really had any information on how assistance could be provided.

The new student loan forgiveness program provides a variety of tangible assistance options. There is opportunity for reduction of student loan payments by up to 90%. In addition, it is possible to remove default with 4-6 weeks, stop tax and wage garnishment, and restore a damaged credit score. Loans can also be consolidated into one low monthly payment, and sometimes, if the borrower qualifies, the student loan balance can be forgiven. The new program provides significantly more opportunities than were available to borrowers years ago. Borrowers who take advantage of the program can free up income through lower payments or in some cases, qualify for full student loan forgiveness.

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For-profit colleges expanded dramatically over the past two decades, with enrollment rising from around 200,000 in the 1990s to a record 2 million by 2010. They recruited aggressively, targeting non-traditional students —older people working people who could only study part-time, women, people of color and veterans. Many students, after graduating, struggled to find jobs as promised or to transfer credits to other schools. This led to massive student loan defaults. A 2010 government study found that all the for-profit colleges investigated by undercover agents made deceptive statements to prospective students and encouraged fraudulent practices.

Well the Federal Government passed legislation that could give financial relief through the Higher Education Act’s “Borrower Defense Rule”.

Under existing law, borrowers with federal loans are eligible for loan forgiveness if a college or a university has misled them or engaged in other misconduct in violation of certain state laws.
More than 200,000 claims are now with the Department of Education (ED) which is responsible to decide who is entitled to the relief.


According to a report by the nonprofit Institute for College Access & Success, 53% of defrauded students’ debt was forgiven under Obama-era rules. That number fell to just 3% in Sec. Betsy DeVos’ term.


DeVos’ rule “makes it impossible for future defrauded students to receive the borrower defense discharge Congress intended,” argued Sen. Dick Durbin. “These schools take the money and run, and the students end up holding the bag with massive debts.”

For former students who attended the numerous For- Profit fraud schools, the law firm that we have aligned ourselves with, has the means to file properly prepared and supported fraud claims to the Department of Education.