STUDENT LOAN

I read that student loans can be discharged after 7 yrs if you file for bankruptcy. I had student loans 10 years ago, but then three years ago returned to school using srudent loans. Are my student loans from the fist time I obtained funding elgiable for discharge b/c it has been over 7 yrs or is nothing elgiable for discharge because I went back to school 3 yrs ago? Thank you.

Posted on Saturday, January 21, 2012 | Filed under: Bankruptcy
 posted by Questions @ 9:32 pm 1 Comment
1 Expert Comment:

 At January 24, 2012 | 11:12 am , Bart Goth, Trustee in Bankruptcy Said...

The student loan rules are very specific and state that you must be out of school for 7 years prior to filing for bankruptcy. This has no reference to whether you used loans for that year or not. So by returning to school 3 years ago, that re-set the clock. So for your loans to be cleared by a bankruptcy you would have to wait for that 7 year period to elapse.

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