Bankruptcy and Foreclosure

[Timmi]

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I have a friend who recently declared bankruptcy and had to foreclose on his home. It is a sad situation for him. He is basically starting over and is thinking of following my path to dental school.

My question is, does a bankruptcy matter to a dental school, will they even know about it?

 

[txsoonerfan]

I would think that it could effect his ability to get loans, but to my knowledge, it should not effect his acceptance into dental school.

 

[Timmi]

That is a good point about the loans, I will make sure he keep that in mind.

 

[alanan84]

I would think that it could effect his ability to get loans, but to my knowledge, it should not effect his acceptance into dental school.

But most of the financial aid received is not based on credit right? I would think you'd still be able to get Stafford loans and such. Don't know though.

 

[Timmi]

I think that you are correct, some of the federal loans are not based on credit.

I have heard schools do a background check, so he might have to deal with questions on why he declared bankruptcy etc. That is what I am really trying to find out.

 

[txsoonerfan]

Yea- the federal loans (not plus loans) are not credit-based. He would have access to those.

I know dental schools do a criminal background check, but I don't think they do a credit check.

Someone correct me if I'm wrong.