FINANCIAL AID OFFICE

AVOIDING OBSTACLES

Loan Default / Bankruptcy 

Students who are in default on a student loan are not eligible to receive federal aid.

Eligibility is regained if the student pays the loan off in full, if the defaulted loan is consolidated or if the student makes satisfactory payments for six consecutive months.

The student will need to provide documentation from the lender that the default has been resolved or that federal aid eligibility has been restored.

Students who have defaulted loans listed in an active bankruptcy claim must provide documentation from the lender stating that the debt is dischargeable or clear the default as described above if they want to receive additional federal aid.