Fyi: Student loans (fed)

[jribe]

For anyone that has not filed yet, or will need to get a new student loan (federal):

You will need sign another MPN (Master Promissery Note) once you file BK. Your loan will automatically get cancelled at the lender if it's pending.

I just had this happen to me. I am so glad i called them to check!

My school starts again Nov 2, and my school already certified my grad loans- i had done everything with the lender. Should have been good to go.

Called yesterday- and found out that my loan was cancelled (filed BK 10/16). Rep checked with processing and said that it looks like i had a BK and would have to resign everything.
- would have been great if they would have notified me! lol. Geez

Anyway- sorry for the long post. Just for those of you in the same situation - check with your lender!

[backtoschool]

This is true for some loan processors, but not necessarily true if you get your loans through direct loans.