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What will happen with your federal student loan eligibility if you file for bankruptcy while attending school?
Wiki User
∙ 13y ago
Bankruptcy will not get U off the hook for the federal student loan. They used to have a hardship deferral, but I do not know for how long it lasts, or if that still hold true. Check the financial aid office for the latest laws and regulations.
Wiki User
∙ 13y ago
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How can you get your student loan to not be shown as included in bankruptcy since you are paying on it?
You must list all debt owed in a bankruptcy. In a Chapter 7 Bankruptcy federal student loans are listed on Schedule F as a unsecured non-priority debt with an indication that they are student loans. Please note that nothing in this posting or in any other posting constitutes legal advice.
Your student loans are in default your attorney says if you file bankruptcy you will still receive your federal income taxes is this true?
While in general you should always follow your attorney's advice, you may wish a second opinion from another attorney this time. A bankruptcy does not get you out of student loans. If you were going to lose your income tax refund to the student loan people, then even after bankruptcy you still will.
Can you get a student loan if you have filed bankruptcy?
I am trying to figure this out myself as I have recently filed bankruptcy and both my husband and I are students. There is a portion of the bankruptcy code that makes it illegal for government agencies to refuse student loans to those who have filed bankruptcy. So, as far as getting Title IV funding, such as government backed loans, you should still be able to get them. Title IV loans are not granted based on credit worthiness and therefore should be given to those who have filed banlruptcy, as long as there are no other eligibility issues, such as a student loan in default, drug conviction, etc. If you want to get a loan from a private lender, then they are under NO obligation to give you a student loan if you have filed bankruptcy or have other credit problems. For example, the Plus! loans that are available to parents are based on creditworthiness, so a bankruptcy would affect your ability to get this type of loan. As far as my student loan after bankruptcy, I did have to fill out additional paperwork and am still awating the results. I will post again after I find out what happens.
Can you apply for a student loan after a filing for bankruptcy?
Only if the bankruptcy is currently discharged.
How much will you get from federal loans for college?
Federal Stafford loans are fixed-rate student loans for undergraduate and graduate students attending college at least half-time. Stafford loans are the alternative vis private banks
Can you file bankruptcy for your student loans and keep your house out of it?
If the student loan is a federal loan and not a private loan then the answer is no. Federal student loans can not be included in bankruptcy, you will always be responsible for repayment of FEDERAL student loans.
Do you have to be us citizen to obtain a loan from a federal student program?
Not necessarily. If a non-citizen meets certain eligibility criteria they can get a Federal Student Loan. Visit the link below for the eligibility criteria.
Do student loans automatically come with filing bankruptcy?
Federal Student loans cannot be discharged in bankruptcy. You must repay them.
Can a felon get federal student loan?
Yes, felons can be eligible for federal student loans. However, individuals convicted of drug-related offenses may face limitations and restrictions on their eligibility for federal aid. It's recommended to complete the Free Application for Federal Student Aid (FAFSA) to determine eligibility.
What are the eligibility requirements for student FAFSA?
There may be some information available through the school that you are currently attending. Alternatively, you could speak to some members of your family for information with respect to student financial assistance.
Is it possible to get an education loan to attend legal administration school?
Schools that are accredited and that have federal i.d. numbers are eligible to participate in federal student aid programs. The student must complete a Free Application for Federal Student Aid ( www.fafsa.edu.gov) to determine eligibility and have the results forwarded to the school.
After completing the FAFSA4caster how long does it take to receive an estimate of a student's eligibility for federal financial aid?
they find out instantly (apex)
What school grants am I eligible to receive?
www.studentaid.ed.gov/eligible/ This is a govt. site. Eligibility for federal student aid is based on financial need and on several other factors. This is a excellent way according your eligibility.
What qualifications are necessary to receive a federal student loan?
The eligibility for student loans is mostly based on financial need. Student loans generally have low interest rates. To get a student loan you must first complete the FAFSA form.
How can you file for financial aid if you own on a loan?
One of the basic student eligibility requirements for a student to receive financial aid is that s/he not be in default on a Federal student loan. As long as you don't have a defaulted Federal student loan, you should be fine to apply for financial aid. Go to www.fafsa.ed.gov. Good Luck!
What are the names of culinary schools that offer financial aid in the form of grants that pays for at least half of the tuition, if there are any that offer aid?
A school does not determine how much aid it dispenses or what percentage of fees are covered. Schools must register with the federal government and get a Federal ID number. Student complete a Free Application for Federal Student Aid (FAFSA) at www.fafsa.edu.gov The application is FREE. Do not pay a service to file it for you. The FAFSA determines eligibility for federal student aid. These results are forwarded to the school where the student is accepted. The school uses the eligibility to calculate how much aid (based on tuition and fees) will be awarded to the student. It is possible that a student could have 100 of tuition and fees covered by a federal grant. It is also possible that a student can be eligible for no federal student aid. A school might have some monies available in the way of special scholarships, but that would vary from one institution to another and in all cases of need-based funds, the students eligibility would be considered.
What debts stay on your credit report longer than 7 years?
Bankruptcy. Defaulted federal student loans.
