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Filing for bankruptcy while in college

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    Filing for bankruptcy while in college

    I am currently receiving student loans(stafford, perkins) and I am wondering if there will it be stopped when I file for bk.

    Since all my student loans are on my credit report, I am wondering if it would cause a problem. I am (hopefully) 2 years away from getting my bachelors in a health occupational field.

    thanks everyone

    #2
    Financial aid is not affected by bankruptcy as long as you filled out a fafsa and got the aid from the school and it is government backed aid.

    You may have to fill out a new promissory note for your student loans, but you will still be eligible for the loans.
    You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

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      #3
      you will still be eligible for stafford loans for school. I would recommend filing after the start of your quarter/semester and once you have received your disbursement.
      They will ask you to sign a new MPN for the loans after you file, which may hold things up a bit if you don't keep up with your lender.

      My lender cancelled my loans (without notification) 1 1/2 before school started. Luckily i called, and found out they needed a new MPN. It took about a week to get resolved because of processing- but i got everything before classes started.

      Originally posted by Scream2Death View Post
      I am currently receiving student loans(stafford, perkins) and I am wondering if there will it be stopped when I file for bk.

      Since all my student loans are on my credit report, I am wondering if it would cause a problem. I am (hopefully) 2 years away from getting my bachelors in a health occupational field.

      thanks everyone
      Filed Pro Se: 10/16/2009
      341 Scheduled: 11/23/2009
      Last Day for Objections: 1/22/2010
      Discharged: 1/28/2010

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        #4
        Originally posted by Scream2Death View Post
        I am currently receiving student loans(stafford, perkins) and I am wondering if there will it be stopped when I file for bk.

        Since all my student loans are on my credit report, I am wondering if it would cause a problem. I am (hopefully) 2 years away from getting my bachelors in a health occupational field.

        thanks everyone
        As the others stated, you can still get Stafford Loans but that amount is limited per year and may not cover everything. I have a daughter in college utilizing Stafford Loans to help cover her tuition, books, etc. I would highly suggest you go to your school's fiancial aid office and talk to one of the financial aid folks - they have seen and heard it all, believe me and are the best source to help you as to the school you are in and what is needed and can be obtained in your situation.
        _________________________________________
        Filed 5 Year Chapter 13: April 2002
        Early Buy-Out: April 2006
        Discharge: August 2006

        "A credit card is a snake in your pocket"

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