Now that Sallie Mae is a private corporation, can bankruptcy be declared on student loans?
No. Bankruptcy can not be declared on any student loans. … No. Bankruptcy can not be declared on any student loans. Federal or private. Answer: Lots of people think that once they?ve filed for bankruptcy … Lots of people think that once they?ve filed for bankruptcy they will be unable to ever get a loan again, and ultimately they are unable to do anything financial ever again. This isn?t always true, there arewill help to improve your credit history in a number of different ways.