Do you feel overwhelmed by student debt? If you do, you are not alone. Students and graduates from New Jersey and all over the country carry loads of student debt with them that seriously paralyze their sense of progress and financial stability.
One such college graduate is fighting through the courts in order to get his law school loan debts discharged. His life after graduation has been a struggle, and so has his attempt at debt relief. But his struggle continues and could be headed to the Supreme Court of the United States.
The man seeking debt relief in this high-profile case is a bit of a nontraditional story. Like many other college graduates out there, especially law school graduates, he has an enormous level of debt owed -- about $300,000. He stands out because he is close to the age of retirement. Imagine how hopeless if might feel at that point in one's life to know that retirement is likely an impossibility.
Generally, student loan debt cannot be discharged through bankruptcy or other debt relief options. In rare cases, "undue hardship" can change that rule for a debtor. The man in this case argues that he fits the undue hardship exception. He has failed the bar exam multiple times, cannot find a job, struggles with mental illness and has a criminal background that further complicates finding work.
The circuit court in his area has ruled against granting the requested debt relief. Due to varying undue hardship standards across the country, the debtor in this case wants the Supreme Court to hear his case and make a more concrete, country-spanning ruling regarding what constitutes undue hardship.
Should the student debt case make it up to the high court, we will post an update on what would be an important ruling for those struggling with student debt in New Jersey and beyond.