I have student loans that are past due, I believe in collections. I was in credit counceling and paying on them but I had a baby and couldn't afford to make those payments any more and had to back out of it. Now that I have the baby I realize I need to go back to school and finish if I want to be in a better situation. If I can catch up payments on my student loan can I reapply? Or if I declare bankruptcy when can the osap be included? I think its six years now but is that from the end of full time study? Any study? Or when the loans were applied for? I'm desperate to go back to school and am looking for any options that may be available to me. Even with my husband working full time things are tight, and it needs to change

MOST student loans (there are very few exceptions) are not discharged in Bankruptcy - they are an exception to the bankruptcy law.

It's my understanding that you cannot get a new student loan when you haven't paid old student loans. If you didn't pay on the first agreement they aren't going to trust you to pay on the second.

If you pay the student loans in full you can always apply for new loans - but I think your past history is going to hurt you.

OSAP stands for Ontario Student Assistance Program and are loans granted in the Province of Ontario Canada. In order for these loans to be included in a bankruptcy and subject to discharge, the debtor must have ceased to be a full or part time student for education funded by student loans for a period of 7 years. If you go bankrupt and include the loan, you will not be eligible for new student loans for a period of three years from your discharge from that bankruptcy assuming you have been out of school for 7 years. The seven year period is calculated from the last day of the last month of education according to the legislation. Contact your student loan lender and ask for the study end date.

If you catch up your payments you could probably qualify for new loans.

I did my undergraduate studies and took OSAP for it. Then I went to medical school abroad and the school I went to was not eligible for OSAP and I couldn't apply for the programme in which you don't have to pay back until you graduate. Now, I am in a new school but I have been getting collection calls from OSAP and my credit got really messed up because of medical school. Can I still apply for OSAP? Will they understand my situation - I am very close to graduating. Can anyone make any suggestions?

I had to take a line of credit for medical school and medical school abroad is super expensive. My credit with the bank has been ruined. I don't have any more money to continue to finish up!