Can I file bankruptcy for student loans due to financial hardship?

I don't know about Obama's executive order, but you asked your question in the bankruptcy category, so I will tell you that student loans are only dischargeable in bankruptcy if you can prove, after trial, that repaying the loans would constitute an "undue hardship" on you and your family, as that term is defined by case law in your jurisdiction. You should consult with an experienced bankruptcy attorney in your area for more details. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.