Generally speaking, a bankruptcy should have no impact on eligibility for federal student aid. However, if some of the student’s federal student loans are in default and were not included in a bankruptcy, the student will not be able to get further federal student aid until he resolves the problem.

Can I get student loans after filing Chapter 7?

§ 525(c) You can’t be denied federal financial aid because you’ve filed bankruptcy in the past. Government student aid providers can’t hold nonpayment of a dischargeable (or discharged) debt against you. You can get federal loans while in Chapter 7 bankruptcy.

Can I get a student loan if I filed Chapter 13?

Federal Student Loans According to Federal Bankruptcy Law, a government agency cannot turn down a student loan applicant simply because that person has filed for bankruptcy. This means, however, that it is possible for someone going through the Chapter 13 process to successfully get a federal student loan.

Can you file for bankruptcy to get rid of student loans?

While you can file for bankruptcy to get rid of your student loans, it’s a lot harder than filing for bankruptcy for other types of debt. That’s because you have to prove your student loans cause you undue hardship under current bankruptcy law, adding another step to your case.

Can you go back to school after bankruptcy?

If you are attending school or plan on attending school after filing for bankruptcy, you should consult with lenders and your school’s financial aid department to discuss your options if you are relying on private loans. Private student loans should be taken out only when absolutely necessary and for the minimal amount.

Can you get federal financial aid if you file bankruptcy?

§ 525 (c) 1 You can’t be denied federal financial aid because you’ve filed bankruptcy in the past. 2 Government student aid providers can’t hold nonpayment of a dischargeable (or discharged) debt against you. 3 You can get federal loans while in Chapter 7 bankruptcy.

Do you have to have good credit to get a federal loan after bankruptcy?

While some federal loans do require that you have good credit (which may take a little while to build after filing bankruptcy), others don’t depend on creditworthiness. Instead, they look at your financial need based on your current financial situation. Written by Attorney Andrea Wimmer.