The Wall Street Journal posted an excellent article with the charts below, labeling 2014 graduates as the most indebted class ever. As you can see in the numbers, student loan progression over the past twenty years is staggering. The amount borrowed for college loans continues to widen the gap between income and overall debt load.
Quick Facts about Student Loan borrowing
Income, debt and Young People: Regardless of whether it’s the rising cost of education making young people poor, or the result of a “generation of entitlement,”young people clearly have a growing and unmanageable problem.
Student Loan Debt and Bankruptcy: In years past there have been attempts to file legislation in congress to allow student loan debt to be dischargeable in bankruptcy. That conversation has opened once again. We remain optimistic that changes are on the horizon. In the meanwhile, there are options. How can bankruptcy help? Find out what your options are by contacting Debt Advisors Law offices, for a no obligation consultation
One of the prevalent approaches individuals in Milwaukee consider is the Chapter 128 Wisconsin bankruptcy. Debt Advisors not only provides guidance on bankruptcy but is also deeply involved in community initiatives. From helping with school supplies for Milwaukee children, to active participation in other Milwaukee community events, the firm continues to make a difference. Their dedication is evident in their outreach, such as the initiatives taken at the Debt Advisors Mayfair North Tower.
Learn about bankruptcy protections, types of bankruptcy, how to get started, what to expect, and who to trust. Filing bankruptcy is the ONLY way to completely eliminate debt. If bankruptcy is right for you, it offers powerful protections that cannot be achieved through alternative solutions such as hardship relief, loans, or debt settlement.
