will filing bankruptcy affect me getting a student loan?

[jpmom3]

I am currently taking college courses. I have federal grants and several student loans that are currently listed as in good standing (of course the payments won't be due until 2012...) I am considering filing Ch 7 bankruptcy because of some serious financial issues hanging over my head. However, I will not be finished with schooling until November 2011, so I will have to apply for more loans in order to finish my program. Does anyone know if filing for bankruptcy will prevent me from getting any more loans? I am thinking I will try to consult with an attorney tomorrow if I can find one to talk to me, but I was just curious if anyone here had any experience with that. Thanks in advance!

[joe6pack]

I just filed and completed Ch 7 BK and am also in school. During the BK process, I was not able to get any new credit unless signed off by a trustee appointed by the court. I don't remember who it was but the lawyer knew how to get in touch with this person. This moratorium on new debt is in effect until the debt is dischared. Now it's all been discharged, I don't think I would qualify for private loans. But private student loans I hear are gone anyway. I don't know how it affects me with the gov't loans but my lawyer said it wouldn't be an issue as long as I was out of bankruptcy court.

[jq26]

Not an issue. Once discharged, you can receive staffords like anyone else. They aren't credit driven. You will not likely get private student loans, which in my opinion are disasters waiting to happen anyway.

Good luck.

[MidlifeCrisis]

What if the last Dept. of Ed loans you need to finish your degree are already approved? Can't you include those amounts (the account numbers are the same, only the semester date changes at the end), when you file your paperwork?

I want to get my Ch. 7 filed but the funds for 2011-2012 won't begin to be dispersed until Sept. 1, 2011. Basically, the debt is already incurred.

[bestdebtcare]

It is better to consult professional help....

[WesleyD]

At some point it will, especially if the bankruptcy is in your name. However, as everybody said. once it has been paid off, you can have a huge chance again, and besides not all grant would take this as an issue. There are others like staffords which can still take you in. You also may consider getting a credit expert to help you out with this.