Does anyone have any information regarding "Qualified" student loans and bankruptcy? I've been doing some research and it appears that if your PRIVATE student loans were never qualified by your school they may be dischargable through bankruptcy. Any idea's/input??
I wanted to get this back up to the top of the message board in case Robert or any other member had information about this interesting "loophole". I've been reading into this issue, too, and it seems some private education loans can be treated as regular consumer debt if they exceed the annual educational costs of the institution for which they were disbursed. For example, if federal loans were taken out for the cost class fees and books, and a private student loan was taken out for off-campus rent and personal living expenses while in attendance, that private loan could theoretically be included in bankruptcy proceedings. This is something I think people in the situation described above should explore further. If I didn't have cosigners, this would be my next step in finding relief!
