Pell Grants and Chapter 7.

[Exployer1234]

[pepperoncini]

BK doesn't effect Pell at all.

[Exployer1234]

Oh that would really be some great news! I think the best I have had this year yet.

[tiiger]

I filled bk in feb. I received a letter from the det of education saying I was no longer eligible for financial aid. After about a week of phonecalls between my school and dept of educ, I finally got my grant reinstated.

[Exployer1234]

The school I am supposed to attend in the fall did not even want to speak with me about grants when I said I was filing BK. I spoke with my attorney and she said that does not sound right. So I am in the process of finding a new college in the fall. I only have 4 semesters left to finish my BA. I have found a couple of colleges that cost less money so I am in the process of looking into these schools.

[pepperoncini]

When I filed my BK7 in 2004, my Pell was never effected at all.

Is this a concern under the new laws or something?

[Exployer1234]

I was wondering if something had changed under the new law. It was just odd that the school I was applying to did not even want to discuss pell grants if I was filing BK. I am in the process of trying to find a new school that will actually work with me.

[tiiger]

I think it may be the new law. I'm still payin on my loans during bk. According to dept of educ, that's the only reason y they reinstated my pell grant.

[tiiger]

When u filed bk, did u have any outstandindg student loans?

[pepperoncini]

Seriously? Can you link me to that info?

I have student loans, they're in deferrment because I've been in school. But I'm planning to take a year off (I hope that's not suicide at my age - 34). Now I'm scared that I won't get Pell because of my impending BK13. Already filed BK7 in 2004.

[tiiger]

Call the dept of educ and ask them how the bk will effect ur pell just to be sure.

[Exployer1234]

I do have current student loans right now. I spoke with one of my lenders and it does not matter about paying them back while I am in school. About a year ago the way loans were giving to people changed. Most of your student loans are regulated through the government. I will call the dept of education to see about the pell grants. I had not thought about this yet. I am still searching for the new laws that were passed about a year ago for student loans and pell greants. I will the link when I find it.

[Majakat]

You have to reapply through https://studentaid.ed.gov - to get a new PN, I believe -

[dspii]

I'm dealing with the task of getting money for my daughter who is away at school...here's what I know.

Pell grants are based soley on income, not BK
The amount of grants went up this year - Thx Obama
Student loans are not discharged...99.9% of the time.

Trying to get a Gov't Direct Loan will be a challenge after BK. On the Parents plus loan, you cannot have a BK or will be denied. You cannot be 90 days late or you will be denied. You cannot be in default on any other student loan.

Again, this was the Parents side of the financing dilema, be a student might be somewhat less intrusive, although it can be tough.

One thing is for sure....never give up on your education, we don't live in our parents economy anymore. The chances of following your dad and his dad to the same company don't exist anymore. Stay in school, study like your life depends on it, there are avenues to get loans, grants and local scholarships.

Never give up on bettering yourself. Pell grant or not...you can do it.

[Majakat]

If you are denied a parents plus loan(which does look at your credit history) the student can qualify for independent student status and get more in stafford.

Stafford loans are not supposed to look at credit, so the student should be eligible even if they have a BK, they are need based. For the student, I am speaking -