can I file bankruptcy and still attend college?

February 26th, 2009 by Questions

I attended College on and off since 2001. During that time, I went through a costly divorce, serious illness that prevented me from working( I was not on disability due to the fact that my ex was ordered to pay spousal support and is still paying). I attempted to get my RN degree, but could not complet this and now am feeling better enough to attend college again. My problem is that I have over 16,000 in student debt and have become insolvent with no assets. I would like to return to college and would like to know if I can attend college while in bankruptcy. Any extra money I have would go towards my tuition and was told by someone that I may not be able to do this. I find myself in a catch 22 because I need to get an education in order to make ends meet and support 3 children. Would I have to wait until the bankruptcy is discharged before I return to college, or can I use the extra money to get my degree? Also, what would happen to the current student loan I have from 2001?

Posted from: Ontario

Questions

One Response to “can I file bankruptcy and still attend college?”


February 26, 2009 at 10:15 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

There is nothing that prevents attendance at school while in bankruptcy. Now this doesn’t mean that you will be able to qualify for student financing, but if you are using your own extra capital then as long as you are keeping up with your commitments in the bankruptcy then you shouldn’t have any major problems.

However, if the majority of your debt relates to student loans then you need to know that student loans are not released by a bankruptcy unless you have been out of school for at least 7 years. From the sounds of it you have not and therefore a bankruptcy may not help you.

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