Hello, I don't know if this question has been asked anywhere else, but I wasn't able to find it. My daughter is going to be starting college next year. We haven't filed BK yet, but maybe forced to soon due to loss of income. As I self employed it will probably be Chptr 7. Will we be able to secure loans to cover the balance of her tuition if we file? Any help or comments would be appreciated.
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Generally, the ability to get student loans has nothing to do with your credit worthiness. In that respect, you should have little trouble getting parent student loans. I appreciate your desire to put your daughter through school, but at the same time, you are about to file bankruptcy because of debt and you are about to put yourself into more debt and a debt that you will never by able to eliminate short of paying it off. Not exactly a smart move.
Education should not be purchased at all costs. If you can't afford it, you treat it like anything else, you either save for it, or go without. -
Thank you for the information. My feelings are, that if I get out from under the load of about $30,000 in CC debt, that I would be in position to assist my daughter so that she doesn't start off life in debt. I am not talking about borrowing the entire amount of a college education. based on her qualification perhaps up to 75% of tuition will be paid for by scholarships. It is the other 25% that I am concerned with. Due to the on going issues of revolving debt I have been unable to save money towards her education. I can pay the $1,000 a month to cover the remaining balance of her tuition w/o the CC debt if I am relieved of the burden.Comment
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