Bankruptcy and Financial Aid

If I file for Bankruptcy can I still qualify for financial aid?

Yes.  You can still qualify for federal student loans because they are "need based" loans.  The logic is that federal loans are granted to people who do not have money.  People generally file for bankruptcy because they do not have money.  Therefore, people who have filed for bankruptcy can still qualify for federal loans based on their need for financial aid to support their education.  Also, based on bankruptcy law, it is illegal for a government back loan agency to discriminate against an individual based on the fact that they filed for bankruptcy.

If you have questions about bankruptcy please call 1st California Law Inc at (949) 735-8499 for a free attorney consultation.

 

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