by Changegrl on November 16th, 2006

Changegrl

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4 Years ago I attended a business college for 2 months, i recieved a student loan but never completed school, If I file bankruptcy, will my student loan be wiped out and will I be able to get another student loan for a real college? A four year college?

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  • by Mrs.mezzo is a Wagnerian soprano on November 16th, 2006

    Mrs.mezzo is a Wagnerian soprano

    The borrower's bankruptcy options on student loans have shrunk to a very few. Changes to the Bankruptcy Code in late 1998 made student loans non dischargeable, regardless of the age of the loan, unless the borrower can establish substantial hardship. Changes in 2005 made even private student loans non dischargeable.

    If you default on your loan you will have to certify eligibility for a new loan. Schools require evidence that you've made satisfactory arrangements to repay.

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