Start My Answer

Overcoming College Debt Challenges: Top Strategies for Financial Freedom

George Simons | June 29, 2023

George Simons
Co-Founder of SoloSuit
George Simons, JD/MBA

George Simons is the co-founder and CEO of SoloSuit. He has helped Americans protect over $1 billion from predatory debt lawsuits. George graduated from BYU Law school in 2020 with a JD-MBA. In his spare time, George likes to cook, because he likes to eat.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: Student loans provide access to quality education. However, repayment is cumbersome and causes mental stress. For this reason, it’s important for students to develop financial literacy and seek professional advice from financial planners. Students who have been sued for student loan debt can use SoloSuit to request a debt validation, respond to a debt lawsuit, and settle the debt before going to court.

The United States granted a three-year federal student loan moratorium in March 2020. It paused loan repayment as a temporary relief in response to the COVID-19 pandemic. Three years later, interest on the loan will resume on September 1, 2023, and payments will start in October. This means cancellation of 0% interest and administrative forbearance.

Student loans are an integral part of the US education system. They facilitate access to higher education, equalize opportunity, and are considered an investment in one’s future. Despite the benefits of student loans, the crushing weight is overwhelming for many individuals. High debt amounts and interest affect the borrower’s financial stability and repayment.

In this article, we will discuss financial tips for college students, bits of advice on how to overcome financial problems, and how to fix student loan debt.

Sued for student loan debt? Settle the debt for good with the help of SoloSettle.

Settle with SoloSettle

Make an Offer

Debt has a big impact on college students

Higher education is costly, and there is no arguing with that fact. The upfront cost of books, tuition, fees, and other educational expenses strain learners without sponsors and scholarships. As well-meaning as the initiative is, college debt impacts students in various aspects.

Mounting debt can affect students in the following ways:

  • Financial stress.
  • Delayed financial milestone.
  • Career choice pressure.
  • Deterred post-graduate education.
  • Mental health impact.
  • Impacts credit scores and creditworthiness.

Undergraduates who are in debt try to budget and manage their expenses while worrying about repayment. It prevents them from saving for emergencies, buying a home, or even starting a family. In addition, they feel pressured to prioritize higher-paying jobs over pursuing their passion. The situation deters students from pursuing post-graduate studies and contributes to anxiety, depression, and other mental issues.

Luckily, there are ways to overcome college debt and find financial freedom again.

Develop financial literacy and seek professional advice

Education is power, and this applies to college debts. The first step to freedom is to develop financial literacy and seek professional advice.

Information improves a student’s financial understanding and provides empowerment. Moreover, it promotes effective debt management and aids resource maximization. While it is true that student loans make you feel powerless, there are laws governing how student loan debt collectors recoup loans. Take a look at some examples below:

  • The Higher Education Act spells out ways to get out of default and back into good standing.
  • The Fair Debt Collection Practices curbs abusive collection practices.
  • The Fair Credit Reporting legislation regulates how collectors report information to credit reporting agencies.
  • The Telephone Consumer Protection Act restricts creditors from contacting you by text, cell phone calls, and messages.
  • The Service Members Civil Relief law applies to active U.S. Military members. People covered by it have interest rates reduced and payments postponed until they return from active duty.
  • The U.S. Bankruptcy Code resolves and frees an individual from continued collection activities.

Student loans are dynamic, and so are the rules guiding them, like how long it takes to default on a loan and when the loan is sent to a creditor, debt collector limits, what to do when they call, and how to fight against illegal collection tactics.

We recommend learning as much as you can about finances through books, online resources, and webinars to improve your knowledge. Apart from this, seek advice from a certified financial planner or credit counseling agency to make informed decisions.

Many undergraduates take part-time work to make money and ease their financial situation. But looming essay assignment deadlines and coursework affect their productivity. Students that want to achieve balance can get assignment done online by delegating tasks to a professional writer or reputable online service.

Sued for student loans—Here’s what to do

Whether you get sued for a student loan or not depends on whether the loan is federal or state. The federal government does not sue since it has many options to force repayment. For example, wage garnishments and tax refund withholds.

A missed loan is considered delinquent but won’t enter default for 270 days. At this point, the entire loan balance is due, and you may start noticing deductions from your paycheck. We recommend you talk to your loan servicer immediately to explore possible options if you miss a payment. After all, no one wants to take the situation to litigation.

If you miss the first payment, a private lender can take you to court over a defaulted loan. This often marks the beginning of financial issues for college students. Follow these simple student loans solutions to handle the situation:

SoloSuit can help with all of these steps and more.

SoloSettle, powered by SoloSuit, is a tech-based approach to debt settlement. Our software can help you send and receive settlement offers until you reach an agreement with your lender. Then, we help manage the documentation of your agreement and transfer your payment to the lender, keeping your financial information private and secure.

To learn more about how debt settlement can help you manage student loans, check out the following video:

Tips to achieve financial freedom as a student

It is not easy to achieve financial freedom in college. But with careful planning and disciplined habits, you’ll live a comfortable life. Pay attention to the following money management tips for students and professionals:

  • Create a budget to track your income and expenses and set financial goals. Allocate your income to different expense categories and stick to them. Meanwhile, prioritize essential costs and put a portion towards debt repayment and savings.

  • Differentiate between needs and wants, and reduce non-essential expenses. Consider cooking at home, public transportation, and student discounts to save money.

  • Reduce borrowing and explore other funding sources. Common examples include scholarships, grants, and work-study programs. Focus on high-interest rates first and use the debt snowball or avalanche method to accelerate your progress. Most importantly, pay debts on time to avoid a private student loan lawsuit.

  • Take on part-time work to support your expenses or leverage your skills to earn extra income. Think about online tutoring, freelancing, or selling items you don’t need. Invest in yourself by prioritizing your studies and making the most of the opportunity. In the meantime, pay an essay writer help to complete assignments online so your academics do not suffer.

  • Seek financial counseling and attend events that teach budgeting and debt management.


Debt opens the door to different financial challenges for students. However, it does not give anyone the right to bully you. Ultimately, it comes down to financial literacy and college money management. Various law aspects protect you from illegal debt collection, harassment, and litigation. But you must play your part by not defaulting on loans. Start by taking control and living a responsible financial life. Cut excesses and use a budget to track your expenses. Pay debts on time and explore free funding options like grants and scholarships. Furthermore, maximize your income by working part-time online or remotely and using credit wisely.

If you’ve been sued for a debt you should request debt validation, settle the debt before your court date, or file an Answer into the case. SoloSuit can help you do all this and more.

What is SoloSuit?

SoloSuit makes it easy to fight debt collectors.

You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.

SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.

>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

How to answer a summons for debt collection in your state

Here's a list of guides for other states.

All 50 states.

Guides on how to beat every debt collector

Being sued by a different debt collector? Were making guides on how to beat each one.

We have answers

Join our community of over 40,000 people.

You can ask your questions on the SoloSuit forum and the community will help you out. Whether you need help now are are just look for support, we're here for you.

Get Started

Win against credit card companies

Is your credit card company suing you? Learn how you can beat each one.

Going to Court for Credit Card Debt — Key Tips

How to Negotiate Credit Card Debts

How to Settle a Credit Card Debt Lawsuit — Ultimate Guide

Get answers to these FAQs

Need more info on statutes of limitations? Read our 50-state guide.

Why do debt collectors block their phone numbers?

How long do debt collectors take to respond to debt validation letters?

What are the biggest debt collector companies in the US?

Is Zombie Debt Still a Problem in 2019?

SoloSuit FAQ

If a car is repossessed, do I still owe the debt?

Is Portfolio Recovery Associates Legit?

Is There a Judgment Against Me Without my Knowledge?

Should I File Bankruptcy Before or After a Judgment?

What is a default judgment?— What do I do?

Summoned to Court for Medical Bills — What Do I Do?

What Happens If Someone Sues You and You Have No Money?

What Happens If You Never Answer Debt Collectors?

What Happens When a Debt Is Sold to a Collection Agency

What is a Stipulated Judgment?

What is the Deadline for a Defendants Answer to Avoid a Default Judgment?

Can a Judgement Creditor Take my Car?

Can I Settle a Debt After Being Served?

Can I Stop Wage Garnishment?

Can You Appeal a Default Judgement?

Do I Need a Debt Collection Defense Attorney?

Do I Need a Payday Loans Lawyer?

Do student loans go away after 7 years? — Student Loan Debt Guide

Am I Responsible for My Spouses Medical Debt?

Should I Marry Someone With Debt?

Can a Debt Collector Leave a Voicemail?

How Does Debt Assignment Work?

What Happens If a Defendant Does Not Pay a Judgment?

How Does Debt Assignment Work?

Can You Serve Someone with a Collections Lawsuit at Their Work?

What Is a Warrant in Debt?

How Many Times Can a Judgment be Renewed in Oklahoma?

Can an Eviction Be Reversed?

Does Debt Consolidation Have Risks?

What Happens If You Avoid Getting Served Court Papers?

Does Student Debt Die With You?

Can Debt Collectors Call You at Work in Texas?

How Much Do You Have to Be in Debt to File for Chapter 7?

What Is the Statute of Limitations on Debt in Washington?

How Long Does a Judgment Last?

Can Private Disability Payments Be Garnished?

Can Debt Collectors Call From Local Numbers?

Does the Fair Credit Reporting Act Work in Florida?

The Truth: Should You Never Pay a Debt Collection Agency?

Should You Communicate with a Debt Collector in Writing or by Telephone?

Do I Need a Debt Negotiator?

What Happens After a Motion for Default Is Filed?

Can a Process Server Leave a Summons Taped to My Door?

Learn More With These Additional Resources:

Need help managing your finances? Check out these resources.

How to Make a Debt Validation Letter - The Ultimate Guide

How to Make a Motion to Compel Arbitration Without an Attorney

How to Stop Wage Garnishment — Everything You Need to Know

How to File an FDCPA Complaint Against Your Debt Collector (Ultimate Guide)

Defending Yourself in Court Against a Debt Collector

Tips on you can to file an FDCPA lawsuit against a debt collection agency

Advice on how to answer a summons for debt collection.

Effective strategies for how to get back on track after a debt lawsuit

New Hampshire Statute of Limitations on Debt

Sample Cease and Desist Letter Against Debt Collectors

The Ultimate Guide to Responding to a Debt Collection Lawsuit in Utah

West Virginia Statute of Limitations on Debt

What debt collectors cannot do — FDCPA explained

Defending Yourself in Court Against Debt Collector

How to Liquidate Debt

Arkansas Statute of Limitations on Debt

Youre Drowning in Debt — Heres How to Swim

Help! Im Being Sued by My Debt Collector

How to Make a Motion to Vacate Judgment

How to Answer Summons for Debt Collection in Vermont

North Dakota Statute of Limitations on Debt

ClearPoint Debt Management Review

Indiana Statute of Limitations on Debt

Oregon Eviction Laws - What They Say

CuraDebt Debt Settlement Review

How to Write a Re-Aging Debt Letter

How to Appear in Court by Phone

How to Use the Doctrine of Unclean Hands

Debt Consolidation in Eugene, Oregon

Summoned to Court for Medical Bills? What to Do Next

How to Make a Debt Settlement Agreement

Received a 3-Day Eviction Notice? Heres What to Do

How to Answer a Lawsuit for Debt Collection

Tips for Leaving the Country With Unpaid Credit Card Debt

Kansas Statute of Limitations on Debt Collection

How to File in Small Claims Court in Iowa

How to File a Civil Answer in Kings County Supreme Court

Roseland Associates Debt Consolidation Review

How to Stop a Garnishment

Debt Eraser Review

Do Debt Collectors Ever Give Up?

Can They Garnish Your Wages for Credit Card Debt?

How Often Do Credit Card Companies Sue for Non-Payment?

How Long Does a Judgement Last?

​​How Long Before a Creditor Can Garnish Wages?

How to Beat a Bill Collector in Court

Not sued yet?

Use our Debt Validation Letter.

Out Debt Validation Letter is the best way to respond to a collection letter. Many debt collectors will simply give up after receiving it.

Let's Do It

It only takes 15 minutes.

And 50% of our customers' cases have been dismissed in the past.

"Finding yourself on the wrong side of the law unexpectedly is kinda scary. I started researching on YouTube and found SoloSuit's channel. The videos were so helpful, easy to understand and encouraging. When I reached out to SoloSuit they were on it. Very professional, impeccably prompt. Thanks for the service!" - Heather

Get Started