Fox business article on “Will a Bankruptcy Stop Me From Getting Student Loans?”

Karin Price Mueller wrote an article for yesterday.   Will a Bankruptcy Stop Me From Getting Student Loans?  Her article is well-written, and in summary, the answer to her title question is “No!”

She does warn (quoting a bankruptcy attorney Ilissa Churgin Hook, an attorney with Hook & Fatovich in Wayne, N.J.,) that

“Keep in mind that a private lender may have different lending criteria than a lender issuing a government insured student loan,” Hook said.

In other words, there are no legal prohibitions against a lender giving you a student loan (or many student loans) with a bankruptcy on your credit report.

On May 19, 2014, I wrote about this topic on this blog.  Does bankruptcy affect my ability to get new student loans?, with the same answer.  student loan after bk

However, I am not a big fan of student loans.  On October 10, 2014, I wrote a blog article “If I take out more student loans for a better education, won’t I get a higher salary and be able to pay them off?” The short answer to this question is also, “No.”