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Are student loans dischargeable in bankruptcy?

April 26, 2017Bankruptcy dischargeable student loans

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Are student loans dischargeable in bankruptcy?

7 Answers

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Generally, student loans are generally not dischargeable in a bankruptcy proceeding unless payment of the loan will impose an undue hardship on the debtor and debtor’s dependents.

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Regine Kelly Posted

Very good points about bankruptcy. I read also some articles that bankrutcy is not really dischargeable in student loans.

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Educational loans guaranteed by the U.S. Government are generally not dischargeable via Bankruptcy. However, if the Court finds that paying it off would create an undue hardship on the debtor it may be dischargeable.

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A. Government backed student loans (which seem to be the majority of all student loans) are not dischargeable in any type of bankruptcy unless it can be shown that excepting them from discharge would impose an undue hardship on the debtor or his or her dependents. This can be determined, after you file bankruptcy, by means of a law suit brought in the bankruptcy court. You would have to show the court, that based on your present and prospective income, you could not possibly pay back the school loan, at least without extreme sacrifice to you and your family.

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Generally, student loans are generally not dischargeable in a bankruptcy proceeding unless payment of the loan will impose an undue hardship on the debtor and debtor’s dependents.