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I will pay for the following essay 3b: Case Analysis. The essay is to be 2 pages with three to five sources, with in-text citations and a reference page.(U. S. Code Collection).In this case, it is see
I will pay for the following essay 3b: Case Analysis. The essay is to be 2 pages with three to five sources, with in-text citations and a reference page.
(U. S. Code Collection).
In this case, it is seen that, the debtor must prove that he/she cannot maintain a minimal standard of living for her or her dependants with her current incomes and outflows, if she is made to pay the students loans and that there are extraneous circumstances that indicate that it may not be possible to repay the loan in the future,
although she has made, or is likely to making sincere efforts to pay off the loans
1. Current levels of income test: Whether the current levels of income gained by the debtor could not be sufficient for the debtor to maintain even minimal standards of living if the student loans are to be made regularly .In deciding this, the Courts would consider the present income levels of the debtor (total incomes of husband and wife would be clubbed together if debtor were married) and determine if residual incomes would be present to pay off the student loans.
2. Change of circumstances test: In this case, the Courts would take account of the future earning capacity of the debtor, and whether the career path of the debtor could facilitate increase in future incomes.” It requires that the court analyze the debtor’s future income and expenses to determine whether the debtor should be required to make changes that will increase his or her disposable income.” (Andrew, 9-10).
3. The debtor has made earnest efforts to service the loan: It is often the case that debtors take up student’s loans and then show paucity of funds and low income levels to circumvent its servicing and move to court for dissolution of loan dues. In avoid avoiding such duplicity, the Courts often examine the loan servicing of the debtor and the track record of past payment. This is necessary in order to ascertain that the causes for non-payment are genuine and not due to the willful dereliction of the debtor.
Conclusion: The law has made it clear that the options whether to take student loans or not,
