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If you are referring to bankruptcy, filed after 10/17/2005, the answer is probably no. The new law makes ANY loan for educational benefit non-dischargeable unless you can 'pass' a VERY stringent test for proving undue hardship.

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โˆ™ 2006-03-04 17:31:23
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Q: Is it possible to have a student loan from a private lender discharged?
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Can a loan be discharged in bankruptcy?

yes, with the exception of a student loan (although its possible, the standard is so tough that most attorneys simply state they are not dischargeable). Also, if the lender was a secured lender, the loan will be discharged but NOT the lien.

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.

In a 1997 bankruptcy was your private student loan discharged if it was not a federal loan but a private loan from a lender?

Depends on how long the loan had been in repayment, whether or not it was insured by a non-profit. Please note that most federal loans are issued by private banks and INSURED by the government.

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.

If you default on a private student loan through a private lender not associated with your school or financial aid office are you still eligible for a federal student loan through your school?

Yes you are.

Are private student loans due immediately after graduation?

Private student loans are not due immediately after graduation. The loan terms can differ from state to state and details can be obtained directly from the lender.

What if you want to change the property of a mortgage loan?

You need to discuss it with your lender. The present mortgage would need to be discharged and the new mortgage executed if the lender agrees.You need to discuss it with your lender. The present mortgage would need to be discharged and the new mortgage executed if the lender agrees.You need to discuss it with your lender. The present mortgage would need to be discharged and the new mortgage executed if the lender agrees.You need to discuss it with your lender. The present mortgage would need to be discharged and the new mortgage executed if the lender agrees.

What are the qualifications for a private student loan?

A private student loan is like any other private loan. Each private lender will determine what qualifications they require the student to meet before they will lend out their money. Some lenders will want some form of collateral and others will base their decision solely on the student's ability to repay the loan.

Are private student loan cosigners in danger if you default on other loans they didn't cosign?

OP here with more details: the private student loans they are cosigned on are current/paid on time, but other private student loans (with the same lender) are about to default. Can this in any way cause problems for my cosigner?

What is a private loan lender?

A private loan lender is a lender that is acting on behalf of a privately owned organization or business, as opposed to a government regulated or non profit lender.

Can people get a student loan with a class E felony for DWI?

Student loans are issued by private lenders whose qualifications may differ. Probably not -HOWEVER- check with your lender.

Can you defer alternative student loan payment if you go into the peace corp?

Only if it's part of the terms of your alternative student loan. Read the loan agreement or ask your lender. There is no law that requires the lender of a private/alternative student loan to offer you that option, and alternative student loans in general have none or very limited deferments other then in-school.

How do you find out how much you owe in a private student loan eg BOA's student maximizer loan?

WWW.AESSUCCESS.ORG that is the new lender, not Bank of America (anymore). So from now on you will be paying bills directly to them.

When did the student loan lender FinAid establish?

FinAid is actually not a student loan lender. It is simply just a website that gives potential students advice on how to apply for financial aid. There is a note in the article that mentions that as of July 1st, 2010, private lenders can no longer make federal 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.

What are some accomplishments of Sally Mae?

Sallie Mae (as it is correctly spelt) is the name of the largest private student lender in the United States. Sallie May owns nearly 20% of student debt in the country.

If a bankruptcy has been discharged but still reflects as pending on the title insurance policy due to the fact the trustee needs to close out will that affect the new lender's lien position?

It won't affect the lender's lien position but their policy. Most lenders won't close the loan if the bankruptcy has not been discharged. If you have been given the discharged paper, you can give a copy of it to the lender and the title company so that they have it in their records.

If you have reaffirmed your house in bankruptcy but then got behind again after being discharged what happens?

The borrower should contact the lender as soon as possible and try to find an equitable arrangement to catch up on missed payments. If the lender is not agreeable to such, foreclosure proceedings will likely be implemented.

How can one get a consolidation student loan?

"There are several ways one can get a consolidation loan. In the United States, there is a Federal student loan consolidation program that allows students to consolidate Stafford loans, PLUS loans, and Federal Perkins Loans into a single debt. One can also attain a consolidation loan through a private lender. However, the terms vary from lender to lender such as forbearances and deferments."

Can underage students apply for student loans?

In most states, you must 18 or older to enter into an agreement with a private lender. However, you only have to be 16 to qualify for federal student aid, including federal loans.

How can you consolidate your student loans when your lender refuses?

When you have asked your lender to consolidate your student loans and they refuse, you can look for a company that will work as a liasion between you and a prospective new lender. Due to investors not investing in student loans the majority of lenders have stopped consolidating federal loans. Student Loan Gal at

Can a student with a credit score of about 560 get a studen loan for grad school?

If you are trying to get a federal loan, you will not have a problem. If the loan is private, you may have trouble finding a lender.

Can a car loan be lower after chapter 7 discharged?

Only if the lender agrees to lower the amount due, remember that the BK discharged the promissory note; there is no legal mechanism to force the lender to lower the amount due (you are in a very weak bargaining position). If you dont make the full payments the lender is entitled to repossess the car.

How can one learn more about a lender's credit source?

One can learn more about a lender's credit source from websites such as Buzzle, Private Mortgage Lending and Private Money Lenders UK. One can also learn about it from Private Loan Lender website and Yahoo website.

What kind of private student loans?

Government guaranteed student loans are not predicated on one's credit; private student loans are. The interest rate is based on the credit worthiness of the borrower. If the borrower has sterling credit, he/she will be eligible for the banks lowest rate; applicants with slightly flawed credit will pay more. Applicants with poor credit won't be able to borrow on the program. There are many "private student loan" programs offered by major lenders. The lender determines its rates and lending policies.