college question

[helpsoneeded]

We are in a 13 and was wondering if we can get a parent loan out for our child to attend college, who will only be getting 5500 from student loans? We need approx another 6500. Thanks

[lrprn]

We are in a 13 and was wondering if we can get a parent loan out for our child to attend college, who will only be getting 5500 from student loans? We need approx another 6500. Thanks

You cannot take on new debt without your trustee's permission. That includes student loans. Some trustees will see your child going to college as a "want" not a "need".

Also if your trustee says yes, if you can make the SL payments and still keep up with your Ch 13 payments, how do you convince your trustee that the money for the SL payments is not extra disposable income that your trustee has a right to take?

Your student needs to investigate getting loans on his/her own first. Government Stafford loans are quite affordable - http://www.staffordloan.com/stafford...udent-loan.php as are other govt-sponsored SLs - http://www2.ed.gov/offices/OSFAP/Dir...n/student.html . Just steer your child clear of private student loans - avoid those at all costs.

[dyrstr8s]

My youngest daughter if a Junior at a state university and was deemed ineligible for need-based financial aid due to our income as reflected on the FAFSA. She was offered the maximum amount of unsubsidized student loans.
We spoke with the financial aid office. They do not consider our Chapter 13 BK a special circumstance, so she is not eligible for any scholarships, grants, or even subsidized loans.
They did say that if we were denied Parent Plus loans, she would be eligible for the need-based aid. So we applied, figuring we would be denied, but we were approved. How the DOE could approve a loan to persons in an active BK, with previous loans included in that BK, is beyond me! We had to cancel the loans, and because we were approved, our daughter is still not eligible for need-based aid. What a screwed up system!