Students that are loaded with student debt loans become most frustrated with their financial situation. There are many different steps that can be taken that may be able to assist them with this financial problem. Individuals need to take a close look at their federal student loan to see if it has become involved in a College fraud. If so then there may be some relief in store for them.
A good example of this is the recent issues with the Corinthian College. Many students received federal student loans to be able to attend the College and then the College ended up having to close down and yet students were burdened with these massive student loans and no completion of their education.
Many of the students found themselves in quite a difficult situation for those that were still attending the school and had obtained student loans, however they were eligible for relief under the closed school loan discharge. But there were many that had completed or had pulled out of the school before the closing and there was no relief in store for them. They still have the obligation of paying their federal student loan debt. However, there was an announcement that there may be the implementation of a 20-year-old provision that applies to the direct loan program called the Borrower Defense to Repayment.
What this entails is being able to show that the school defrauded them. Students that have been involved in this situation with Corinthian or any other school that is closed for that matter that is applicable to the student loan debt, should really seek out a student loan debt relief attorney who can assist them with their rights according to the way the goal closing a situation is being handled.