San Antonio Mayor Julian Castro gives the keynote address at the Democratic National Convention tonight. It is a high honor to be chosen for this assignment. Everyone from the San Antonio area – regardless of political affiliation – will be sharing the spotlight by extension.
The major is still only 37. In his three years in office, however, he has made access to education one of his signature issues. His interest in it starts with expanding prekindergarten programs. It continues on up the line to improving preparation for college to make it more academically accessible.
But what about the financial part of college? For years, even before the Great Recession hit, the middle class has been struggling to pay ever-increasing costs for college or vocational school. The sticker shock only increases for those who go on to post-graduate programs.
Of course, the implicit bargain used to be that if you took on the debt and worked hard, you could get a good job to pay the student loans back. In today’s economy, though, that bargain has turned into a bust for many people.
If you are one of those people, you may be wandering what kind of debt relief is available. It’s true that the general rule is that student debt is not dischargeable in bankruptcy, except in cases of extreme hardship.
Nonetheless, a bankruptcy filing may be a good move on your part. Even if you don’t qualify for the hardship exception, discharging other debts can help make your loan payments more manageable. It makes sense to review your options with an experienced bankruptcy attorney.
Source: “Convention Keynoter Has Pressed Ed. Agenda as Mayor,” Education Week, Sean Cavanagh, 9-4-12
Our firm handles situations similar to those discussed in this post. To learn more about our practice, please visit our consumer bankruptcy page.