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In depth: Ideas surfacing to solve the student loan debt crisis, P. 1

The amount of student loan debt carried by Americans has received a great deal of attention in recent months. The troubled economy has, in part, brought attention to the issue. The rising cost of college and the nation's bankruptcy laws have also factored in to the increased attention on student loan debt.

Cincinnati bankruptcy lawyers are aware that only in very rare cases are people able to discharge student loan debt in bankruptcy. Many people struggling under high debt loads may be able to better cover their student debt load after filing for bankruptcy due to the discharge or reorganization of other debts.

Yet many commentators are suggesting that student loan debt may be the next bubble, and the commentators are asking for some type of fix to the student debt problem. Bu t, what are the ideas that are surfacing to ease our burgeoning student debt issue?

There is little consensus on how to solve the nation's growing problem with student debt, but some general ideas have emerged that are aimed at giving graduates, parents of students or graduates and those who have cosigned student loans some debt relief.

The majority of news stories in recent weeks have focused on the interest rate calculations for student loans that are under fire in political circles. But, many other ideas are emerging to try to fix the overall problem of student loans. Last year, student loan debt topped $1 trillion in the U.S, and surpassed the total amount of credit card debt held by consumers.

In the next two posts, this blog will discuss a few of the emerging ideas that aim to slow the student loan debt crisis.

Source: USA Today, "Five proposals to solve $1 trillion college loan crisis," Sandra Block and Christine Dugas, May 21, 2012

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