Legal Question in Bankruptcy in Virginia

Bankruptcy and obtaining student loans

Can filing Bankruptcy prevent you from obtaining one of the Federally supported student loans? I filed for bankruptcy but would like to go back to college this year and I wonder if student loan approval is affected the way standard credit is (for 10 years). I had prior student loans 15 years ago that I paid off on time and with no penalties. These loans were not listed in my bankruptcy.


Asked on 2/14/98, 6:20 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Student Loan eligibility after bankruptcy

Section 525(c) of the Bankruptcy Code prohibits those making government-made, guaranteed, or insured student loans from denying such loans because of a bankruptcy orpre-petition insolvency. If you wouldotherwise qualify, the bankruptcy will notaffect your eligibility.

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Answered on 2/17/98, 2:54 am


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