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Will filing chapter 7 affect my ability to recieve student loans?

Wappingers Falls, NY |

I am currently a student and may file chapter 7. I have a year and a half left in school which I will need loans to complete. Will this affect my ability to receive student loans through financial aid?

Attorney Answers 3


You cannot be denied a student loan by the government as the result of filing a bankruptcy case. 11 U.S.C. 525(c) strictly prohibits the denial of a student loan solely because a person has filed a bankruptcy or failed to pay a debt that was discharged in a bankruptcy case.

Mark Markus has been practicing exclusively bankruptcy law in California since 1991. He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization, AV-Rated by, and A+ rated by the Better Business Bureau.

Legal disclaimer: Mark J. Markus practices law in California only. The information is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Answering this question does not in any way constitute legal representation.

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Filing chapter 7 will not prevent you from obtaining future student loans, but as you no doubt know, you cannot eliminate student loans through bankruptcy. In addition, talk to a bankruptcy attorney about issues of timing the filing of your bankruptcy case so you don't run into any glitches at the last minute.

Hope this perspective helps!

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I agree with my colleagues. In short, you cannot be prevented from getting a student loan simply because of a past bankruptcy. Further, student loans can be discharged in bankruptcy only when there are special circumstances.

This answer does not create an attorney-client relationship.

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