Question, how do you deal with student loans while attending school and going back to school this january with a student loan while going through a chspter 7?
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That is not really a question? What do you mean by, "how do you deal with student loans..."
Since student loans are not usually tied to credit worthiness, you shouldn't have any issues. The only limiting factor is that you cannot/should not take on new debt while the bankruptcy is active. Beyond that, you should rephrase your question and ask what you really want to know and share your concerns. -
Yes, I fired this question off last night while in class. Let me restate the question. I am currently enrolled in school, and plan to continue school this Jan 22. I have approved student loans for this and next semester. Should this student loan be listed on my schedules? And as I have read, the bankruptcy should have no impact on my continuing education. Would the school be notified or would the servicer just be notified?
Thanks!Comment
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Hi, search this forum for similar questions and answers as there is a lot of information here that could help you. Just an FYI, my husband was approved for and we were only about 3 weeks out from distribution of his loan money for his last semester in January 2012 (filed in December 2011) when they notified us that they would not distribute the funds. It was Sallie Mae and even though he was already approved for the spring semester and had rec'd the fall funds prior (this would have been the remainder of that school year loan) they said they could not distribute for someone in the middle of bankruptcy. So we had to come up with the funding for that last semester on our own. Just something to keep in mind. I think it depends on the type of loan and who it is with. Good luck!Comment
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Looked around, seems there Fed loans and Pell Grant, Bankruptcy isnt an issue, whereas Sallie Mae requires good credit to obtain the loan in the first place. Fed Stafford does not.Comment
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