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Bryan P. Keenan

Pennsylvania debt relief helpful for those with student loans

When people walk across their graduation stage and claim their college degrees, they often feel a range of emotions. They might be looking forward to pursuing their career goals and finally being done with schoolwork. They also might be dreading the day when their first student loan payments will be due. When Pennsylvania job salaries aren't large enough to keep up with the rising costs of daily living -- let alone the cost of a college education-- these individuals may seek effective debt relief options.

College degrees often are not affordable for many of those who pursue them. For instance, the average cost of a degree is more than $18,000. This is more than the average income of a sales worker at Walmart. The cost of a college degree has actually increased by about 70 percent since the year 2000.

The problem is that, in general, income from employment hasn't increased enough to keep up with the cost of college tuition. For this reason, many people are relying more heavily on loans to get through school. In fact, seven in 10 students graduate with debt. Indeed, the nation is in a student debt crisis.

People usually feel the pressure to attain college degrees in order to claim better jobs, but when they can't land these jobs, they have to deal with the perils of joblessness combined with the stresses of having insurmountable debt. Even those who hold jobs may struggle to stay afloat financially at a time when regular expenses seem to be increasing. Those Pennsylvania residents who face certain types of hardship might be eligible for debt relief through bankruptcy. Currently, most student loan debt is not dischargeable under the Bankruptcy Code, but other types of debt may be, thus making it easier for them to finally tackle their college loans and more quickly experience the joy of being debt-free.

Source:, 7 out of 10 Students Graduate With Staggering Student Loan Debt, Emily DeRuy, March 6, 2014

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Bryan P. Keenan & Associates, P.C.

993 Greentree Road
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