According to the Institute for College Access and Success, college graduates in California average $21,382 in student loan debt. As students graduate into a tight job market, they may find it tough to pay back student loans. Inability to pay back loans may have some people considering bankruptcy or refinancing, but are student loans eligible for discharge?
The short answer to discharging student loans through bankruptcy is usually "no," but the longer answer may be "yes" if the client and attorney take the right steps. Refinancing options are still available to student loan borrowers who are not eligible for discharge via bankruptcy or may not be interested in bankruptcy at all.