I HAD A STUDENT LOAN THAT WENT INTO DEFAULT. THE LOAN WAS FROM 1994 AND IT RACKED UP INTEREST THAT IS MORE THAN THE LOAN AMOUNT ITSELF. I WANTED TO KNOW IF MY LOAN CAN BE CANCELED BECAUSE THEY HAVE ALREADY TAKEN OUT THE AMOUNT THAT THE LOAN WAS ORIGINALLY FOR FROM MY 2011 TAXES, AND BECAUSE I DIDN'T COMPLETE THE COURSE AND I NEVER GOT A REFUND FROM THE SCHOOL AND THE SCHOOL HAS BEEN CLOSED FOR ALMOST 14-15 YEARS? I AM NOT WORKING I AM TAKING CARE OF MY CHILDREN WITH DISABILITIES. WHAT SHOULD I DO?

It is highly unlikely that the loan will be discharged or canceled because of the changes to the lending law in 2005.  Despite the fact that you have paid off the original principle, and the school closed, you will still owe all the interest.  You have two options.  First, you can try to work out a payment plan with the creditor.  Second, you could file for bankruptcy and try to get the loan discharged.  To receive the discharge you will have to prove hardship with regards to paying the loan off.  It is very difficult to prove this hardship, but you should consult a bankruptcy attorney to determine if you have any chance of receiving a discharge.   This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.