Pre Med Students..Costs

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numberrronee

SebastiaN
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My friend is about to go through bankrupcty. He has no student loans on his bankruptcy but hes like 12 grand in the hole. He should be done by december when he starts to go to a university with me. Will this affect him in getting student loans. I told him no since you cant use bankruptcy for student loans. I heard they will give you student loans no matter what just you have to pay them back. I dont know if im right though. Can he make his way through a university with bad credit?

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NOT speaking from experience, I have heard of people who have had their financial aid/student loans rejected.
 
My friend is about to go through bankrupcty. He has no student loans on his bankruptcy but hes like 12 grand in the hole. He should be done by december when he starts to go to a university with me. Will this affect him in getting student loans. I told him no since you cant use bankruptcy for student loans. I heard they will give you student loans no matter what just you have to pay them back. I dont know if im right though. Can he make his way through a university with bad credit?

Most loan approvals for students are based highly on credit history since there is rarely any significant source of income. It can be hard to get student loans if you have bad credit. It might not be impossible for your friend, but I would expect to shell out for a very high interest rate.
 
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Bankruptcies do NOT affect federal financial aid.

HOWEVER, it will affect private aid.

Here's a link for your friend.

If he has bankruptcies and requires private funding, most likely he will require a co-signer such as a parent or relative. They don't have to be related but that was just an example.

There are many factors into "bankruptcies" such as the issue of reestablishing his credit as well as length of time since the bankruptcy.

I'm also requesting this gets moved to the financial aid forum for more traffic :)
 
I agree with mushy that you'll get more knowledgable feedback in the FA forum, so I'm going to move it there.
 
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