Check out this Vocativ article, The New Student Loan Fixers, discussing the emerging niche of student loan law. The article focuses heavily on my practice!
Three years ago this month, I founded the first law office in Massachusetts (and one of the first in the country) devoted entirely to helping student loan borrowers (check out my first blog post, it’s super boring!). It has been an incredible experience to work with such great people in a new and exciting area of law.
Over the past three years, we’ve done some amazing things together. Here are a few of the highlights, at least for me:
- Obtained an administrative discharge of a client’s entire federal student loan balance on the basis that her for-profit school had admitted her without providing any ability to benefit from the education. The client’s entire loan balance was canceled, administrative wage garnishment was halted, and her federal lender refunded every payment she had made on the loan, totaling thousands of dollars.
- Convinced a private student loan lender to waive the entire remaining balance on a post-judgment loan on the basis that its contracted debt collection agency had improperly calculated the loan’s interest rate in violation of the original judgment agreement.
- Negotiated several settlement arrangements with the notoriously difficult U.S. Department of Education, collectively waiving approximately $100,000.00 in federal student loan debt in the process.
- Negotiated a post-judgment repayment agreement with the U.S. Department of Justice for defaulted federal health education loans, allowing a medical professional to make reasonable and satisfactory payments while continuing to practice medicine.
These highlights are just the icing on the cake, from my perspective, because the real exciting stuff has simply been the opportunity to work with so many student loan borrowers. You guys are such good people, and it’s an honor to have the opportunity to work with you.
To my current and former clients, it’s been an absolute pleasure, and I’m proud of what we have achieved together. To my readers, followers, and supporters, thanks so much for taking the time to read and share my articles; it really means a lot to me, and I’m humbled by the private messages you’ve sent me over these past three years supporting what I do.
It has been a truly rewarding three years, and I’m looking forward to what the coming years have to offer!
My television appearance on “Legal Lines,” a program sponsored by the Mass LGBTQ Bar Association, is scheduled to air on BNN today at 4pm. I’ll be discussing student loan law. Check it out!
For more information on BNN, click here.
I’m thrilled to be co-chairing a June 1 continuing legal education course on student loan law. If you’re an attorney or interested in this area, I encourage you to join! Click here for more info.
A year ago this week, I opened one of the first law offices in the country dedicated entirely to helping student loan borrowers. I had no idea what to expect; I knew a lot of people in this country had student loan-related legal problems, and I thought I could help, but I just didn’t know what challenges and hurdles I might face, and whether I would actually be able to help people. It’s been a truly exciting and (dare I say) successful year. I had a little fun and crunched some numbers to see what’s been accomplished here over the past 12 months:
- Over $910,000 (nearly $1 million!) in student loans have been brought out of default.
- 26 borrowers have been switched to Income-Based Repayment plans, with tens of thousands of dollars in total monthly savings compared to Standard and Graduated repayment plans.
- 21 borrowers have been removed from collections.
- 30 borrowers have been issued federal Direct Consolidation loans, with over $2 million in student loans consolidated.
Honestly, my favorite aspect of the work has been the clients. All of you have been truly a pleasure to work with, and you make my job so enjoyable (and sometimes even fun… Let’s be serious, what can be more fun than snatching a $100,000 student loan from the clutches of a nasty collections agency?). I have to say, although I am very proud of these numbers, there’s still a lot of work to be done. Looking forward to new challenges and loftier goals for the coming year.
Thank you for coming to my website. This page will be updated regularly with current developments regarding student loans and news about the firm. Please check back soon!
Adam S. Minsky, Esq. is a Boston lawyer who concentrates his practice in student loan law. To learn more, please visit www.minsky-law.com. These posts are for informational purposes only and are not intended to be taken as legal advice.