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Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 30902
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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Would filing a chapter 7 BK jeopardize the chances of securing

Customer Question

Would filing a chapter 7 BK jeopardize the chances of securing a student loan?
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  Roger replied 3 years ago.
Hi - my name is Kirk and I'm a Bankruptcy litigation attorney. Thanks for your question.

Generally speaking, a bankruptcy should have no impact on eligibility for federal student aid. This is so because federal student loans are not dischargeable in bankruptcy, so there's no affect.

However private student loans would be treated just like any other loan - - and a bankruptcy would affect that. Most people only need federal student loans, so it should not pose an issue.
Customer: replied 3 years ago.
The loan in question is a "parent plus" loan would that be a federal loan?
Expert:  Roger replied 3 years ago.
Yes -
Expert:  Roger replied 3 years ago.
Yes, a parent plus loan is a federal loan. You can read about them at the link above.

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