Can I Get Student Loans after Filing for Bankruptcy?

Yes! You can still get student loans after filing for bankrutpcy. However, whether you will get the financial aid depends on who the lender is.

You can still qualify for federal student loans because they are "need based" loans, which means you only get money if you really need it. The idea here is that federal loans are granted to people who do not have money, and people who file for bankruptcy generally do so because they do not have money. Therefore, people who have filed for bankruptcy can still qualify for federal loans.

Private lenders are a different matter because private loans are "credit based." Private lenders look to see whether you can and are likely to repay your debt. Because of this, you may have more difficultly in getting student loans from private lenders after filing for bankruptcy.

Categories: Chapter 13, Chapter 7