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    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
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    #1

    Dec 9, 2012, 07:40 AM
    Student Loans and bankruptcy
    I see the financial gurus(Suze Orman) state you cannot discharge Student Loan in bankruptcy. One poor soul owed $100,000. But what about Federal Loans. Do the same rules apply.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Dec 9, 2012, 07:50 AM
    What type of "Federal Loans" house, business ?

    Since most student loans are Federal loans, I assume you are not talking about other Student loans.

    And no, in most cases Student loans, in the US can not be discharged in bankruptcy
    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
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    #3

    Dec 9, 2012, 08:23 AM
    College
    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
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    #4

    Dec 9, 2012, 08:24 AM
    So both types private and federal loans for college students cannot be discharged in bankruptcy
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #5

    Dec 9, 2012, 09:22 AM
    A private loan that is not guaranteed under Federal law may be dischargeable. But like Chuck said, most loans that are made specifically to pay higher education tuition and fees are Federal backed loans.
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