Will I Lose My Student Loans if I File for Bankruptcy?
By Brett Weiss, Maryland Bankruptcy Attorney on May 11, 2007 in Bankruptcy Practice and Procedure, Benefits of Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy Information, Life After Bankruptcy, Maryland
One question I’m often asked is whether someone loses the ability to get student loans if they file for bankruptcy. The short answer is, “No.”
Section 525(c)(1) of the Bankruptcy Code specifically states that a student loan, grant, guarantee or insurance cannot be denied to someone because they filed for bankruptcy.
I’ve had many clients who took out student loans out during and after filing for bankruptcy relief, and they didn’t run into any problems. The question of whether you can discharge your student loan in bankruptcy is another story.
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