Jeffery B. Kelly - August 2017


Student loans may be a huge source of debt, but they’re also necessary for many Americans who are trying to continue their education. I’ve had clients who were young college kids who needed to file for bankruptcy. I’ve also had clients who were nontraditional students, heading back to school for a second career or change of pace. In these cases, that change of pace also happens to include a midlife bankruptcy filing. The good news is, you can get a student loan even after you file for bankruptcy. According to the Unified Student Loan Policy Common Manual of April 2005, Chapter 5, paragraph 5.6, the Bankruptcy Reform Act of 1994 prevents a school or lender from denying a federal loan or grant to an applicant solely because he or she has filed a bankruptcy petition. The truth is that bankruptcy will not prevent you from pursuing your education dreams. I’ve had clients who were able to get student loans while

they were in active Chapter 13 bankruptcy cases, although any loan that is obtained during a Chapter 13 bankruptcy must be approved by the Trustee. For students who are applying for financial aid, I would think that a bankruptcy would show the college that you are truly in need of that financial aid. Like I said, that’s the good news. Now for a stern warning: Remember how your bankruptcy helped you discharge and restructure all your debt? That will never happen with your new student loans. They’re easy to obtain but virtually impossible to discharge in any type of bankruptcy. If you borrow too much, you could be putting yourself into economic slavery. I have some lawyer friends who claim that they will be paying on their student loan debt until the day they die! So, before taking on student loan debt, you should consider whether the potential income you are going to earn will be enough to pay off the student loan over a reasonable time.

Make the most of these last few summer weeks and wrangle the kids for this fun, easy dessert! You can even save the leftovers in the freezer for those busy back-to-school nights. ICE CREAM SANDWICHES RITZ CRACKER

• 1 pint your favorite ice cream Recipe inspired by

Ingredients • 4 ounces dark chocolate pieces, melted

24 Ritz (or generic butter round) crackers

Directions 1. Melt chocolate pieces in a double boiler or in the microwave. Stir until smooth and drippy. 2. Arrange crackers, bottom side up, on a cookie sheet. Use fork to drizzle melted chocolate over crackers, then place them in freezer to cool quickly. 3. Remove crackers from freezer and place small ice cream scoop in

the center of 12 crackers. Press remaining crackers, chocolate side down, onto the ice cream scoop.

4. Freeze at least 4 hours before serving.Wrap individual sandwiches in plastic wrap to

store in freezer for up to 7 days — but they’ll never last that long.

Break Free From Your Debt • (678) 568-2276 • 3 ENJOY!

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