Can you file bankruptcy on college debt that is not a loan?
Situation: Son went to college on scholarship, blew last semester which blew the scholarship. School has charged him for the courses/housing etc total $26K. It's not a loan but was an automatic charge placed on his account because the scholarship was not paying for that bs. So...can it be filed in a bankruptcy?
1. "It DEPENDS" In response to Reply # 0 Sun Nov-19-23 08:39 PM by handle
He probably singed a contract for the scholarship and the details will be in there it probably says if you don't meet certain conditions that it's a loan - or maybe it says it's a loan UNLESS you meet certain conditions - like completing the coursework with an acceptable grade.
But also sometimes the portion of a private student loan that wasn't tuition can be discharged.(Think housing and food costs.)
But also even federal loans can be discharged in some specific cases.
They made it a lot harder in 2003, but it can still be possible.
legsdiamond Member since May 05th 2011 79947 posts
Mon Nov-27-23 07:54 AM
6. "more than likely they are on the hook for it" In response to Reply # 3
those schools use some shitty 3rd party banks.
more than likely they will get it forgiven 10 to 20 years from now in the next lawsuit.
The Art Institute schools just settled a class action for preying on students with these lying ass promises of landing jobs.
**************** TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*
legsdiamond Member since May 05th 2011 79947 posts
Mon Nov-20-23 07:52 AM
2. "sounds like a fucking scam" In response to Reply # 0
I thought losing a scholarship meant next semester is on you.
they pulled the rug immediately on him?
gotdamn..
is this a for profit school?
**************** TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*
legsdiamond Member since May 05th 2011 79947 posts
Mon Nov-27-23 07:30 AM
5. "yup, those art schools are predatory " In response to Reply # 4
and way over priced.
just go to a community college and then find a university with a good art program.
**************** TBH the fact that you're even a mod here fits squarely within Jag's narrative of OK-sanctioned aggression, bullying, and toxicity. *shrug*
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