Banckruptcy and Stafford Loan?

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first: If i apply for bankcrupty before can i still be approved for a stafford loan? When i applied for bankcruptcy i didnt have any student loans so i didnt default any.

second: if i get approved for a stafford loan, will the school that i am attending to or the financial officer at that school know that i filed for bankruptcy??

help?

Banckruptcy and Stafford Loan?

First, you may possibly qualify for a Stafford Loan even if you have previously filed for bankruptcy. But you can never, ever avoid repaying student loans by filing for bankruptcy. Even if you are successful at having your other debts and obligations settled or charged off, this will never happen with a student loan because of bankruptcy laws and the promissory notes that are signed when the money is lent out.

Second, your school's financial aid office may learn that you have filed for bankruptcy through your financial aid forms and loan application process. (Schools and lenders are interested in how likely you are to repay a loan, so the do take a look at your history. ) But they are generally very careful to handle sensitive information discreetly. So, don't shy away from applying for these loans if you need them.

Previous bankruptcies may have an adverse effect on the interest rates you are charged on the loans, even if they are the kinds of loans that have deferred interest and deferred payment until after you graduate or leave school (like the Stafford Loans.) But you can usually get this type of loan if you are not currently in default on an earlier student loan.

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Banckruptcy and Stafford Loan?

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