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| Financial Aid |
Question:
How does filing for bankruptcy affect
ability to receive future financial
aid?
Answer:
If you're talking about student loans,
11 USC 525(c) states: A governmental
unit that operates a student grant
or loan program and a person engaged
in a business that includes the making
of loans guaranteed or insured under
a student loan program may not deny
a grant, loan, loan guarantee, or
loan insurance to a person that is
or has been a debtor under this title
or a bankrupt or debtor under the
Bankruptcy Act, or another person
with whom the debtor or bankrupt has
been ociated, because the debtor or
bankrupt is or has been a debtor under
this title or a bankrupt or debtor
under the Bankruptcy Act, has been
insolvent before the commencement
of a case under this title or during
the pendency of the case but before
the debtor is granted or denied a
discharge, or has not paid a debt
that is dischargeable in the case
under this title or that was discharged
under the Bankruptcy Act. IOW, they
can't discriminate against you as
the result of a bankruptcy.
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