I took a parent plus out 10 years ago for $15,000, had trouble paying but recently got out of default but it is now $31,000. I am about to remortgage my home and may have some cash but I’ve been told, I will have to pay off the entire $31,00, is this a fact in any case?
May 3, 2014
In the majority of cases, student debt does have to be paid off in full.
The big exception would be if you are able to qualify for one of the many student loan forgiveness programs: https://studentloansherpa.com/student-loan-forgiveness-programs/
Some student loans can be settled, but these settlements are unless things have escalated to the point where attorneys are involved. A background on making a lump sum payment to pay off student debt can be found here: https://studentloansherpa.com/fact-fiction-payoff-student-loans-lump-sum/
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