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Obtaining student loan question

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New Contributor

Obtaining student loan question

Hello,
My husband and I filed March 13th. We have our creditor meeting this upcoming Friday, April 19th. My husband is going back to school in May so he did a FAFSA. When he looks on his school account about the aid, it says someone will reach out to him because the student loan data shows his previous loans were discharged or included in bankruptcy. Well obviously his loans are not going to be discharged, but we are currently in bankruptcy so it won't reflect that until discharge. I didn't think he would have a problem getting a student loan and now I'm worried. Are they going to deny him federal student aid due to the bankruptcy?
Message 1 of 7
6 REPLIES 6
Valued Contributor

Re: Obtaining student loan question

I THINK he will be ok as long as you are not trying to discharge any SL debt.

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Message 2 of 7
Established Member

Re: Obtaining student loan question

yes this absolutely could be a problem for you, unfortunately.  I tried to get a student loan from my credit union just last week.  I was credit approved and everything but in the end I was denied because ONE of my loans is still reporting as "included in bankruptcy."

 

I think technically until you get the discharge the loans ARE included in the bankruptcy.

Message 3 of 7
New Contributor

Re: Obtaining student loan question

I have read private student loans are a no go. I'm wondering more about federal need based loans.
Message 4 of 7
Valued Contributor

Re: Obtaining student loan question

My assumption is that the loans are coming directly from the Fed Govt.

Private loans are private loans and will always be more difficult.

The only hang ups I know of on Fed Govt loans is being behind on payments or drug convictions or maybe other felonies.

Rebuild started in 2014  -  $100k+ unsecured credit in 2017  -  $300k+ unsecured credit in 2019.

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Message 5 of 7
New Contributor

Re: Obtaining student loan question

Okay. We were never behind on them as they were either in income based repayment or forbearance. Forbearance before the filing.
Message 6 of 7
Community Leader
Valued Contributor

Re: Obtaining student loan question

My suggestion would be not to wait for them to call you. if you talk with the school's financial aid department or directly with the Dept of Education, they should be able to give you solid answers.



Message 7 of 7
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