By Richard K. Gustafson
A lot of people ask me, “can I still get student loans if I file for bankruptcy?” The answer is YES! In fact, the bankruptcy code specifically provides that no governmental unit that operates a student grant or loan program and any person engaged in business that includes the making of loans guaranteed or insured under a student loan program may not deny a grant, loan, loan guarantee, or loan insurance to a person who has filed for bankruptcy or is involved currently in a bankruptcy case [11 USC Section 525(c)].
Thus, as long as you are applying for student aid through a federal government insured program and you otherwise qualify for aid, you can not be denied a grant or loan just because you have filed or are currently involved in a bankruptcy case.
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March 9th, 2008 at 4:48 pm
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Excellent post. Keep it up!