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It can be difficult to get a student loan after bankruptcy, if you are trying to use a private lender for your college funding needs. However, you may be able to qualify for certain government student loan programs. Since there are limitations on the amount of a government student loan, the school you choose to attend may have to be based on the amount of government funding you receive.
If you have filed bankruptcy, many private lenders will not grant you a loan based on your past credit problems. If they do approve your loan, the interest you pay may be at a rate that makes your student loan payments unaffordable. One way to get a favorable loan rate is to apply with a co-signer who has a strong credit history. The lender may decide to put your additional signer first on the loan with you as the co-borrower, but the loan terms should be better.
Since you had financial problems large enough to cause you to file for bankruptcy, if you are still in a position to qualify for government loan programs like Stafford and Perkins loans, this may be your best option for your college funding needs.
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