Legal Advice on If I file for bankruptcy, will it affect my federal financial aid eligibility?

This is a question best answered by the university financial aid center. My client's have never reported an issue on federal loans. When it comes to private loans, that is a different question. Good luck.

Under the United States Bankruptcy Code, section 525(c), you are specifically protected from discriminatory treatment due to your status as a bankruptcy debtor when seeking a student loan. You cannot be denied a loan or a grant because you declared bankruptcy, because you were insolvent before declaring bankruptcy, or because you didn't pay debts which are dischargeable or have been discharged in your bankruptcy. With that said, the fact that there's a law against it doesn't mean it won't happen; proving you were denied a student loan because of bankruptcy can be difficult. Bankruptcy will also have an impact on your credit rating, and at least one court has found that denying someone a PLUS loan because they have poor credit because of a bankruptcy does not violate 525(c). I would therefore suggest you remain cautiously optimistic - odds are good that there won't be an impact, but you need to be prepared for the possibility.

Bankruptcy should have no affect on your ability to get financial aid.