Persuasive Speech On Student Debt

The sun creeps through the windows as it kisses your face to wake you up. Birds chirp to greet your favorite day of the week, Friday. As your eyes open, you sit up and reach for your phone. All of a sudden, your chess gets tight. You see the direct deposit from your job is $200 or $300 less than usual. As you look at your compensation sheet, you see the name you have been dreading to see, “Sallie Mae”. Your check has been garnish and your bills are due in a few days. There is a flashback in your head to senior year in high school, when the question was formed, will a lifetime of student debt is really worth it? Knowing, that lifetime is a figurative view, since most everyone’s loan debt varies, but you feel as if it is forever.
During this time of deciding where to attend college, high school graduates often face this question. With the increase in student loan debt over the last
Under Chapter 7, one must prove there is little to no disposable income to cover the debt. Chapter 13 is for debtors with excessive income who can afford to pay partial debts back. The process of both options takes three to six months to finalize and to have the debt discharged. Unfortunately, unless you can prove an “undue hardship”, only then can a student loan debt be exempt. According to the Federal Student aid website, most courts use the ‘Brunner Test’ to define “undue hardship”. Here are the three requirements: First, you must make a good-faith effort to repay the loan before you filed for bankruptcy. Second, whether or not your financial hardship would continue for a significant portion of the repayment period if you were force to repay the loan; and thirdly, the condition to maintain the minimal standard of living, if you were force to repay the loan. If your lawyer can prove you meet these conditions, there is a chance your loan will be discharged, but how possible is