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If you've got federal student loans, you've probably wondered whether you could settle with the government. Just cut a check, make a deal, and go on with your life.

The truth is that there are ways to settle your federal student loans, but they're very limited. Even if you do settle the loans, it may not be the best solution for you.

On today's show we'll talk about the three major types of federal student loan compromises, as well as some of the landmines that come along with settling your federal student loan obligations.