0
In theory yes- student loans can be discharged. In practice- it is extremely rare. The only examples i have seen where a student loan is discharged is when the borrower is paralyzed, have a severe neurological disorder, or has been diagnosed with an end stage illness and are therefore unable to work.
A discharge of student loans is so rare that most attorneys flat out tell potential clients that student loans are not dischargeable.
I'm not sure what you mean by "unsubsidized" - I know what it means - I'm not sure you do!
A government backed (that doesn't mean subsidized) student loan cannot be discharged in bankruptcy. If it isn't government backed, it is simply a personal loan you used to pay for education and may be discharged like any other.
Additionally, you do not bankrupt "a loan"...you go bankrupt - it includes all things you own and owe. Nothing is excluded. Some things may not be discharged.
What else can I help you with?
What do the letters UNCNS mean regarding student loans?
It means that your loan is UNSubsidized Consolidated
Can you bankrupt on a government student loan?
These are not allowed to be discharged.
What should you do with your Unsubsidized Federal student loan disbursement?
Use it to help cover the cost of your education...
What is a dlunst loan?
unsubsidized loan.
What are unsubsidized loans and is there a credit check?
An unsubsidized loan is simply a student loan which make it possible for students to finance an education while attending a college or university. To obtain most loans, you must submit a credit check.
An unsubsidized loan is always more expensive than a subsidized loan?
YES! Because interest accrues on an unsubsidized loan during periods when it doesn't accrue on a subsidized loan, the total cost of an unsubsidized loan is always greater than that for a subsidized loan of the same amount.
What type of student loan do I have?
To determine the type of student loan you have, you can check with your loan servicer or review your loan documents. Common types of student loans include federal loans (such as Direct Subsidized or Unsubsidized Loans) and private loans. Each type has different terms and conditions, so it's important to know which one you have.
How can one obtain an unsubsidized loan in Calgary?
One can obtain an unsubsidized loan anywhere if they are a undergraduate or graduate. This can be obtained through your school and the money amount of the loan is determined by the school.
Are you able to apply for a student loan if you are bankrupt?
In the US, yes. Federally guaranteed student loans are not given out based on credit or employment.
Unsubsidized Student Loans?
Financial aid is a way for students to offset some of the costs of a college education. From tuition to books to room and board, getting a college degree can be expensive. However, the financial package a student is offered may not be quite enough to cover those costs. In those cases, student loans may be an option to help a student make sure he or she can afford to go to college. One type of loan available to students who need a little extra financial aid is the unsubsidized student loan. These loans are not based on the applicant's financial need, and interest is attached to the loan from the time it is awarded rather than a set length of time after the student stops attending classes, which is how subsidized loans work. Generally students try to use subsidized loans so they do not have to make payments while they are taking classes. However, there are benefits to unsubsidized student loans, as well. For students who are able to begin paying back while still in school, an unsubsidized student loan will allow them to begin paying back the lending organization immediately. This will reduce the length of time money is owed to the organization. That is, if you begin paying back your unsubsidized student loan while you are still attending classes, you will have less to pay when you graduate, and you will be able to finish paying the student loan off sooner. Another benefit is the ability to prepare mentally for the student loan payment each month. Many college students have difficulty creating and maintaining budgets. By beginning to pay back a student loan right away, a student can adjust to making the payment every month. That way, when he or she is finished with school, the loan payment each month will come as less of a shock. Whether or not you want to get an unsubsidized student loan is ultimately up to you. Make the decision based on your individual circumstances, and speak with representatives from your college's Financial Aid Office to be sure you know what would be involved in getting a student loan.
What is the difference between a Perkins Loan that is subsidized and one that is unsubsidized?
The main difference between a subsidized Perkins Loan and an unsubsidized Perkins Loan is that with a subsidized loan, the government pays the interest while the borrower is in school, during the grace period, and during deferment periods. With an unsubsidized loan, the borrower is responsible for paying all of the interest that accrues on the loan.
What are fixed rate student loans?
A fixed rate loan, like the Federal Unsubsidized Stafford Loan, are loans whose interest rate stays the same during the entire duration of the loan and during the time of payment.
