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student loans and bankruptcy

If you can discharge your student loan under bankruptcy after 7 years out of school, is this based on the last date you attended school, the last date you received a student loan or the date you graduated with a diploma?

Posted from: Alberta

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One Response to “student loans and bankruptcy”

Barton Goth – Goth & Company Inc. – Bankruptcy Trustees said...

Student loans can be cleared by the filing of bankruptcy if you have been out of school for more than 7 years at the date you filed for bankruptcy. So it is the last day you physically attended school that is important. Although this can also be a bit confusing as your last day is considered to be last day attended but the last day of the month in which you last attended (i.e. if your last day attended was April 12 then it is consider April 30 to be the last day you attended).

If you have any further questions about this you are best to contact a local trustee.