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    Apply for student loans before or after discharge?

    I'm trying to go back to school for my RN. I wanted to start this fall. The adviser felt that I would qualify for a grant but after filling out my FAFSA it says I only qualify for student loans.

    My discharge should come next week. Can I apply for a student loan now or should I wait on my discharge?

    Thanks!
    4/09 Converted to a Ch 7 due to loss in dh's income
    5/09 UST now involved no idea what happens next
    7/09 UST has decided to withdraw his motion to dismiss!
    7/27/09 DISCHARGED!!!

    #2
    I'm surprised you don't qualify for a Pell Grant? Have you discussed this with your advisor?

    I don't know about waiting for the Discharge; the courts are becoming so backlogged that if you aare trying to get into school for the Fall term, that could delay you. Have you talked with your advisor about this?

    Good luck to you.
    "To go bravely forward is to invite a miracle."

    "Worry is the darkroom where negatives are formed."

    Comment


      #3
      I really didn't want to tell my adviser that we filed BK. Before I move on to the federal student loan app should I ask my attorney first or what? I mean if I apply now will it mess up anything with my case?

      We can afford to pay the tuition b/c the fees at my community college are really low but we may not be able to afford my dd's childcare and tuition so the student loan would help out a lot.
      4/09 Converted to a Ch 7 due to loss in dh's income
      5/09 UST now involved no idea what happens next
      7/09 UST has decided to withdraw his motion to dismiss!
      7/27/09 DISCHARGED!!!

      Comment


        #4
        It is your decision, and you know your advisor the best--I certainly don't. But I will bet that he/she has heard of BK situations before dealing with hundreds of different students each term. That information may change to advice the the advisor will offer you.

        Whatever you decide, I wish you very well in your academic endeavors.
        "To go bravely forward is to invite a miracle."

        "Worry is the darkroom where negatives are formed."

        Comment


          #5
          In my experience-- when you file for BK you need to tell anyone it can effect. The very first thing I tell anyone (potential banks, rents and so on) is "I am now, or in the process of going Bankrupt," then, "will you talk to me." If you are transparent as to your situation, usually people can work with you. Usually you will not get "premium" but you get an audience. So yes. Tell them.

          Comment


            #6
            The student loan will not be affected by your fileing before or after discharge, It is need based the more you need the money the more they give. IT is backwards to normal loans. If you have no income you get more. LAst semester i did not get one between tghe grants and pay from the va for going to school. I did not get one. But this semester i got 4750 besides everything due to the long semester. The student loan is a federal garrented loan. IT does not go off your credit. As for how it will affect your filing. I asked my parents the same question they told me it should not since when you get the loan you agree to use the loan for going to school which includes room and board and so on. So i would say ask your lawyer but you should be good to go for the loan. I know here they do not give out the loans till a month or two into the semester. so you would have another month or two

            Comment


              #7
              Pell grants are only for undergraduates. Have you looked into other grants and, of course, scholorships? The more up-front you are, the more people can help you.

              Comment


                #8
                I think your wroung about the pell grant thing. But i will be stopping my school tomorrow and will find out for sure.
                Originally posted by Iwantmyname View Post
                Pell grants are only for undergraduates. Have you looked into other grants and, of course, scholorships? The more up-front you are, the more people can help you.

                Comment


                  #9
                  Well this is what I ended up deciding. I was going to get my LVN first and then my RN. The LVN program at my college is full until December of 2010. If I wait till then I can get a student loan to pay for it. It's $5500.

                  There's a one year program at my local hospital that starts THIS December for $6500. We ended deciding that I'd be better off to do that one and we are borrowing the tuition money from dh's 401K.

                  If for some reason it doesn't work out then I will end up waiting on my college's program in 2010.
                  4/09 Converted to a Ch 7 due to loss in dh's income
                  5/09 UST now involved no idea what happens next
                  7/09 UST has decided to withdraw his motion to dismiss!
                  7/27/09 DISCHARGED!!!

                  Comment


                    #10
                    That sucks Glad it is working out. School is costly. I go to ivytech here in indiana. Tuition was 2675 books about 500 bucks I got 2600 for my pell grant 3750 for my student loan and 1k for the obannon grant. I will end up getting about 5600 of it cash to me to pay for living expences.

                    Originally posted by aces67 View Post
                    Well this is what I ended up deciding. I was going to get my LVN first and then my RN. The LVN program at my college is full until December of 2010. If I wait till then I can get a student loan to pay for it. It's $5500.

                    There's a one year program at my local hospital that starts THIS December for $6500. We ended deciding that I'd be better off to do that one and we are borrowing the tuition money from dh's 401K.

                    If for some reason it doesn't work out then I will end up waiting on my college's program in 2010.

                    Comment


                      #11
                      Originally posted by bigtim6656 View Post
                      That sucks Glad it is working out. School is costly. I go to ivytech here in indiana. Tuition was 2675 books about 500 bucks I got 2600 for my pell grant 3750 for my student loan and 1k for the obannon grant. I will end up getting about 5600 of it cash to me to pay for living expences.
                      How does that work anyway? What I'm wondering is when you apply for a student loan does the money go directly to the school or to you?

                      I'm wondering if I can still get a student loan and just pay the school with that.
                      4/09 Converted to a Ch 7 due to loss in dh's income
                      5/09 UST now involved no idea what happens next
                      7/09 UST has decided to withdraw his motion to dismiss!
                      7/27/09 DISCHARGED!!!

                      Comment


                        #12
                        Originally posted by aces67 View Post
                        How does that work anyway? What I'm wondering is when you apply for a student loan does the money go directly to the school or to you?

                        I'm wondering if I can still get a student loan and just pay the school with that.
                        First, I'd like to say good luck in your schooling. From my experience, when I was taking classes here in OH at a community college, the funds went directly to the college to pay for my tuition, and then anything left over came to me.
                        Filed: 5/22/07; 341 Hearing: 6/27/07;
                        Confirmed: 8/13/07; DISCHARGED 4/17/2012

                        Comment


                          #13
                          Maybe the school needs to be a nat. accreded school. http://www.salliemae.com/ GO there. Ask at your schools financial aid office. As for mine. My pell grant loan goes to the school they remove any tuition and book fees. Here when i do my loan paper work i get approved and the school credits it and the pell money to my account i can get my books and other stuff from the book store before they get my loan. Then on sept 24 they will release me a check for what ever is left over. So around oct 1st to 10th i will get a buig check
                          Originally posted by aces67 View Post
                          How does that work anyway? What I'm wondering is when you apply for a student loan does the money go directly to the school or to you?

                          I'm wondering if I can still get a student loan and just pay the school with that.

                          Comment


                            #14
                            Originally posted by Nicollette View Post
                            First, I'd like to say good luck in your schooling. From my experience, when I was taking classes here in OH at a community college, the funds went directly to the college to pay for my tuition, and then anything left over came to me.

                            Yes this is correct. Also you cannot get Pell Grant as a Grad student.

                            My DW is a RN and I would advice not doing the LVN program first, nor borrowing against the 401k at this time. Me and DW are back in school and we are not discharged, our attorney said it was not a problem with student loans and go ahead.

                            BK does add a extra step to the student loan process. The financial aid office has to verify that you are not in default on previous loans. That is it.
                            Filed 5/27/09
                            341 7/2/09
                            341 held
                            Discharge and closed 9/4/09

                            Comment


                              #15
                              Originally posted by Rick9972 View Post
                              Yes this is correct. Also you cannot get Pell Grant as a Grad student.

                              My DW is a RN and I would advice not doing the LVN program first, nor borrowing against the 401k at this time. Me and DW are back in school and we are not discharged, our attorney said it was not a problem with student loans and go ahead.

                              BK does add a extra step to the student loan process. The financial aid office has to verify that you are not in default on previous loans. That is it.
                              Well after all my work I just found out that I actually am APPROVED for a Pell Grant if I go through our local community college. So I'm back at step one now. I have an appointment on Monday to talk to the adviser and see if it's too late to get into A and P.
                              4/09 Converted to a Ch 7 due to loss in dh's income
                              5/09 UST now involved no idea what happens next
                              7/09 UST has decided to withdraw his motion to dismiss!
                              7/27/09 DISCHARGED!!!

                              Comment

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