Yes, you should still be eligible for a guaranteed student loan (GSL).

Answer Applies to: Virginia
Replied: 11/16/2011

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Your question mentions student loans and financial aid. These are two separate ideas. Financial aid includes grants and scholarships. Student loans are different and must be repaid. You should not rely on student loans. It is the most stubborn debt and a serious problem in this economy. Many graduates find that they cannot earn enough money to pay off the debt and it continues to grow. In most situations you cannot get relief from them and they will not be discharged in bankruptcy. You can work to help support your graduate school and you can apply for grants and scholarships which should not be impacted by filing for bankruptcy. Check with a guidance counselor for information on different programs and the qualifications.

Answer Applies to: California
Replied: 11/15/2011

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Bankruptcy will have a negative impact on your credit score and may affect your student loan approval.

Answer Applies to: Washington
Replied: 11/14/2011

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From my experience fling for bk does not seem to interfere with securing student loans at a later date. Don't quote me on this as I said it appears that my clients are getting student loans after filing bankruptcy.

Answer Applies to: California
Replied: 11/14/2011

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It is possible but I warn you that student loan debt is choking people. There is more owed on student loan debt than on credit cards and the numbers keep getting worse. It would be wiser to struggle through school and come out debt free. Student loan debt is a hefty mortgage on your future. The interest on those loans are killing people. They are a deal with the devil.

Answer Applies to: California
Replied: 11/14/2011

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It depends on the type of student loan you are applying for. If you are applying for a federal loan, then you will still be eligible because federal loans are based on need and not on your credit history. So if you still qualify for the loans based on your finances, then you should still be able to get the federal loans. However, private student loans are based on your credit rating. If you filed for bankruptcy then most private lenders will be very reluctant to grant you a private loan because of your credit history. So your chances to obtain a private student loan will be very slim, and you should not rely on them when deciding how you will be able to pay for school.

Answer Applies to: New York
Replied: 11/14/2011

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I would say with 99% certainity, that, yes, you will still be eligible for a student loan. I say that based upon the experiences of my clients.

Answer Applies to: Texas
Replied: 11/14/2011

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This should not change your elligibility for federal student loans but it may prevent private student loans.

Answer Applies to: Utah
Replied: 11/13/2011

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Section 525 of the bankruptcy code covers certain protections when filing bankruptcy. For instance, you cannot be discriminated for student loans on account of filing bankruptcy.

Answer Applies to: California
Replied: 11/13/2011

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Financial aid is based on need and not credit status. Thus, bankruptcy is not an issue when it comes to future student loans if you have the financial need. Discover the secrets of bankruptcy and eliminate your debt.

Answer Applies to: Colorado
Replied: 11/12/2011

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Yes, you cannot be denied a student loan because you filed bankruptcy. 11 U.S.C. 525 prohibits any such discrimination on the basis of a bankruptcy filing.

Answer Applies to: California
Replied: 11/12/2011

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Student loans are not dischargeable, so it is likely that you will be fine, but to make sure you should call the financial aid office for your school and ask them.

Answer Applies to: New York
Replied: 11/12/2011

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If you are otherwise eligible for student loans you cannot by law be denied student loans or other assistance.

Answer Applies to: Colorado
Replied: 11/12/2011

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Yes you cannot be denied student loans because you filed a bankruptcy case.

Answer Applies to: California
Replied: 11/11/2011

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So you would be asking someone to loan you money after you filed bankruptcy, which demonstrates to creditors you cannot repay your debts. No, it highly unlikely you would get a student loan.

Answer Applies to: California
Replied: 11/11/2011

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Yes. It is illegal for a lender to discriminate against a debtor and deny a student loan solely on the basis the he filed for bankruptcy.

Answer Applies to: Texas
Replied: 11/11/2011

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It would not be a good idea for you now to file since student loans are not dischargeable in Bankruptcy and you may be able to settle with your creditors for .30 on the dollar.

Answer Applies to: Georgia
Replied: 11/11/2011

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Yes. all goverment backed loan agency, i.e. Sally Mae, have to give you a loan, they can't discriminate against people who have filed for bankruptcy.

Answer Applies to: Florida
Replied: 11/11/2011

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As long as you have not defaulted on any of your current student loans, federal student loans are not based on your credit score. Private student loans are affected by your credit history.

Answer Applies to: Georgia
Replied: 11/11/2011

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Bankruptcy will eliminate the ability to get some loans that are based on your credit. Unless you are in default on other student loans, it won't affect most other loans and aid.

Answer Applies to: Georgia
Replied: 11/11/2011

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Since your credit score is affected, filing bankruptcy may affect your ability to take out student loans. This may require getting a co-signer or waiting until you've rebuilt your credit.

Answer Applies to: Illinois
Replied: 11/11/2011

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