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If my husband and I declare bankruptcy, will it affect my daughter from getting student loans in the future???

Posted from: Newfoundland and Labrador

One Response to “concerned”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

I am not aware of any lending clause that looks at the solvency or credit history of a students parents, but to be sure you can contact the Student Finance Board in your province to confirm this. Although, I don’t think that is necessary as the loan would be in your daughters name not yours and the whole intent behind student loans is to help finance an education when the parents are not in a position to do so, so having some penalty for your bankruptcy wouldn’t be consistent with the overall intent of student loans.