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No. Under the old Bankruptcy Code, you could dismiss student loans if they were not government backed or if they were not issued by an entity that receives state money. However, the new Bankruptcy Code does not make this distinction, so under the new Code no student loans are dischargeable, not even private ones. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!

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โˆ™ 2007-05-12 15:48:19
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Q: Can you discharge private student loans?
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Can private student loans be consolidated with federal student loans?

Sometimes private student loans can be consolidated depending on certain factors including the rules of your lender, whether you are in deferrment or default and your credit score. You cannot however, consolidate federal student loans and private student loans together.


What is the statute of limitations on private student loans in Florida?

what is the statute of limitation on private student loans in florida


Can I apply for private student loans?

https://www.studentloan.com/ contains information on student loans application, and how to pay for college. http://www.privatestudentloans.com/ has to do with private student loans


What are private student loans?

The private student loans are the loans arranged by the student through any of the private banks at a fixed interest rate. To apply to these private student loans you need a cosigner unless your credit rating is too good and you have a source of income.


Can you consolidate Private student loans into federal student loans?

no. you will have to consolidate separately. with a federal lender then a private lender.


Do you have to include student loans in bankruptcy filing?

can you file student loans on bankruptcy no. But yes you do have to list them in your bankruptcy. And No they will not discharge the debt on them, if they are federal student loans.


What is the difference between private stafford and plus student loans?

What is the difference between private stafford and plus student loans?


Are there sites to explain private student loans?

There are many sited that will explain private student loans. Some are www.salliemae.com and www.suntruststudentloans.com.


where can I get a private student loan?

Private student loans are credit-based, non-federal student loans that can help you cover any school expenses you have remaining when scholarships, grants, and federal student loans arenat enough.


Can you tell me about private education loans vs. government education loans?

If you do not want federal student loans, you can get private student loans through your bank, such as Chase or Citizens Bank. You can also get private loans through Sallie Mae.


Are all student loans issued by the Federal Government?

No..there are also private student loans.


How can you discharge student loans?

Slave wages at best.


Are all student loans federal loans?

No, private lending institutions (such as banks) also give out student loans.


Which lenders offer private student loans?

When looking for student loans many students choose private loans with Chase and FinAid or a local business. This varies from student to student based on personal scholarships, credit, financial aid, etc.


In what ways are private student loans different from government loans.?

Private student loans usually have higher interest rates and have to be paid in a specific time period. Government loans are more flexible.


Should I get private student loans or government student loans?

Loans can help with the expenses of college. You should look into the loans at both a government and private level to see what has the lowest interest rates.


Will an auto repossession have an effect on your ability to get non-private student loans?

Student loans through FAFSA is not credit based so no it will not. Private student loans is a diffrent story, which is based on credit.


Are private student loans more financially advantageous than student loans through the government?

Student loans through the government are better than private loans due to the fact that the government does not have as high of interest on the loans, and you get a longer time to pay them back.


Is a student loan considered federal?

In the U.S., student loans can be Federal or Private.Stafford, PLUS, and Perkins loans are Federal. Most others are private.


Can you apply for a private student loan before you apply for a grant?

Yes, but you should find out how much Grant money and Federal student loan money you are eligible for before applying for Private student loans. Grants are free and Federal student loans are cheap. Private student loans are very expensive. Avoid them if you can.


What are some banks that offer private student loans?

In the United States most national banks will offer private student loans. In Canada most federal banks like The Royal Bank of Canada and The Bank of Montreal also offer private student loans.


I have a loan from sallie Mae supposedly for school which only took a month and they gave me acertificate can this be discharge in chapter 7?

Unfortunately no. All student loans, whether private or Federal are not elligible for discharge in bankruptcy.


Is there a company that ofers private student loans?

There are many companies that offer private student loans as an alternative to the federal loans and grants offered by the government. Some examples are Sallie Mae, Chase and Discover.


Do student loans require a cosigner?

No, for the majority of student loans available in the United States you will not need a cosigner. However, for private loans, you will need a cosigner.


How do I get a private student loan?

The first step in getting student loans is to make sure you have completed the FAFSA. You can check and ask banks for some good private loans.