Even if you go bankrupt, it's nearly impossible to shake off your student loans.
But a lawyer for a former law student trying to "discharge, " or obtain forgiveness, for more than $300, 000 in student loan debt recently found a way.
According to the legal news site Law.com Todd argued that her disability prevented her from paying back the $339, 361 she borrowed in order to attend the Baltimore School of Law. Todd, who has a high school equivalency degree and a Ph.D. from an unaccredited online school, began law school in 1992 and later dropped out. She filed for bankruptcy in 2009 at age 63.
While credit card debt and other kinds of loans are forgiven in bankruptcy, shaking off student loans is much more difficult. Debtors seeking forgiveness from education debt must prove the loans will impose an undue hardship on themselves or their dependents.
The judge in Todd's case ruled that her disability prevented her from working and was thus reason enough to discharge her loans, according to Law.com.