I'll need a student loan in 2010 and will not qualify for financial aid I'll be coming out of bankruptcy at this time (if all goes as planned). How hard is it going to be to get a loan for school right after discharge? Should I not count on it or is it easier to qualify for a student loan vs. a personal loan?
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Still learning all of this, but glad I've found this site! Thank you all for your advice and patience! -
if your school qualfies for Stafford loans- you'll be fine; those are not based on credit.Originally posted by HMT View Post
You would def have an issue with private loans though. It would certainly require a co-signer.Filed Pro Se: 10/16/2009
341 Scheduled: 11/23/2009
Last Day for Objections: 1/22/2010
Discharged: 1/28/2010 -
You'll need to make sure your school is accreditted by the US Dept of Education (http://ope.ed.gov/accreditation/Search.aspx) to qualify for any government loans.Originally posted by HMT View Post
Government loans are the only loans you will not have an issue with after a recent BK. They are need based; not credit based.
You will need a co-signer with excellent credit and good income to qualify for any private loans (and in this enviornment pretty much forget about personal loans unless you have a co-signer as well).
If your school is not accreditted-find one that is.
I found that out a little late; i was all set to start a grad program- until i applied for loans and they didn't qualify. Luckily i found another school an hour away with a better program that does qualify.
Good luck!Filed Pro Se: 10/16/2009
341 Scheduled: 11/23/2009
Last Day for Objections: 1/22/2010
Discharged: 1/28/2010Comment
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If you do get a public student loan PLEASE be aware that even Bankruptcy will not usually get these clear nor is there to my knowledge any statute of limitations. It's a big risk.Disclaimer: I am not a lawyer nor giving legal advice. Use at your own risk.Comment
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