Can I get student loans and financial aid during my bankruptcy?

Question

I am filing my bankruptcy soon, and i know it'll take quite awhile for it to be discharged, in the meantine and possibly before that I want to start school and apply for financial aid and a student loan, will I still be able to even though I have a bankruptcy in progress? and if not, what if I apply for everything now, before I file, but then would filing while recieving aid effect anything? would I not be able to get aid after that? or would it affect any loans or grants I would be recieving at the time?

Answer 1

As far as I know, federal student aid does not go by credit score, however, if you are in default on any FEDERAL loans, you will not be eligible for FEDERAL $$$$. If this is the case, check into state financial aid, they usually give grants and scholarships. If you are trying to get private loans, thenb youll have a problem

Answer 2

Your ability to obtain credit during is directly determined by the loan criteria of the lender. Your bankruptcy would show up on your credit rating.

A typical chapter 7 bankruptcy takes about 3.5 months from the time it is filed to the date you receive your discharge.

Answer 3

bankruptcy will not prevent you from receiving financial aid. However, your financial aid counselor may request a statement that a letter from your attorney that student loans are not being attempted to be discharge

Answer 4

purely my opionon FWIW. Wolfe is sweet. get rid of each and every and something however the bare needs in case you will artwork purely area time. additionally think of long and annoying approximately what's a luxury. flow it with a relative, loose the vehicle with the motor vehicle money, no internet, no cellular telephone, that's what it takes to realize college. the biggest reason human beings drop out is with the help of the fact they get distracted via "existence". as a manner to prevail right here, you ought to confirm you have no longer have been given any existence. :-) No concerns, no vehicle fee, loan fee, internet, cable..... i might stay remote from private student loans like the plague. private loans are evil and could be prevented in any respect expenses. additionally your purpose of borrowing 25K a year is a approaches too extreme. Federal student loans (sparkling 7500, soph 8500 jrs and srs 10500) have limits on them for a reason. to guard YOU. lower back private student LOANS ARE EVIL. do no longer permit anyone convince you that borrowing 100K for college is popular because of the fact it rather isn't any longer. in case you could no longer attend a school without resorting to those substandard loans then you somewhat could desire to locate a extra value-effective college. in case you borrowed 25K for 2 years, then without warning became a father, became clinically determined with maximum cancers, or hospitalized by no ability to artwork lower back (All 3 of those circumstances are real human beings I knew in college who dropped out) you will possibly nonetheless have 50K in debt, and no college degree. do no longer spend such as you have the degree till you do. shop the non-public loans for grad college in case you ought to.... maybe.... maybe your senior year of your bachelors degree.