Financial Aid while in Chapter 13?

[danas15146]

I have been considering going back to school for nursing for a while now. Does anyone know if I would be able to qualify for federal student loans and/or grants while I am in Chapter 13? I am in Pennsylvania if that makes a difference.

[anonymuse]

Go check out this site for info:

http://www.fafsa.ed.gov/

[lrprn]

You are not supposed to add on new debt during Ch 13 without checking with your trustee first. However, if you are going back to school, your trustee might allow an educational loan. The good news is that according to FinAid at http://www.finaid.org/questions/bankruptcy.phtml, for federal loans "Generally speaking, a bankruptcy should have no impact on eligibility for federal student aid."

Are you planning to work while you are going to nursing school? I'm a nurse and I think you will find school + work challenging unless your work hours are very flexible and you are only working part time.

Whatever you decide to do about school (and it would be wonderful to add another nurse to our profession!), make absolutely sure you can still make that monthly payment to the trustee! That is the top priority while you are in Ch 13.

[danas15146]

I am planning on still working while going to school. My kids get their health insurance through me so chapter 13 aside, there would be no way that I would be able to quit my job.

There is a really good nursing school in our area that actually will pay your full tution if you sign a two year commitment with their hospital upon graduation - but you are still responsible for books and uniforms. The part time program takes about four years to complete - it is three evenings and one weekend day per week.

I'll check out the sight that you gave me. Thanks.