Obtaining student loans after BK

[luckstyl]

Anyone have an idea of what kind of credit score would be required to obtain a moderate amount of student loans post-bankruptcy?

[chrisdfw]

getting federally guaranteed student loans, such as federal direct (formerly stafford) loans is not a problem.

Getting private loans or PLUS loans will not be possible for a while.

However, I would NEVER, EVER, under any circumstances short of the need for a life saving cancer treatment recommend private loans. These are horrible products with the downside of non0dischargeability, but none of the upsides like income based repayment or loan forgiveness that exist with the federal loans.

If you want to specifically discuss your situation, I am very well versed in financial aid and student loans, send me a message or post here and I would be happy to address your situation.

[Exployer1234]

I received my federal loans while I was going through my Chapter 7. It was not a problem. All you have to do is fill out the FAFSA form and your college information and they will determine how much you are allowed to borrow. Each school is different on the amount you can borrow.

[luckstyl]

thanks for the offer chris, but I'm probably 3-4 years away from grad school at this point and anything you told me would be long forgotten by then ha.

[HHM]

Do yourself a favor, and really look at the "realistic" earnings potential of the degree you seek. The cost of education is so high now, that if you get a worthless degree, it is like having a mortgage on a house in which you cannot live. Student loans are basically debt slavery, you really should reconsider taking ANY student loans.

But to answer your question, the previous answers were correct, BK will not affect federal loans, but "might" affect private loans.

[luckstyl]

Solid advice, no doubt. Once my bankrupty is discharged this spring, I will (finally!) be able to complete my Economics degree. It's not a sure thing by any stretch, but I'd like to eventually get an MBA and focus on finance, since my goal is to get into the finance realm at some point.