Admissions

Loans for Student When Parents File for Bankruptcy?

Question: I am a 20 year old college junior. I am considered a "dependent" student when filing for financial aid. Recently, my parents filed for bankruptcy, so I am now afraid that this will affect my eligibility for student loans, since my mother is a co-signer. My solution is to file as an independent student next year so I would be solely responsible for my loans. Is this possible? Please advise me on what I should do and how this will affect me. I plan to go to law school after my bachelors as well. Thanks!!

Unfortunately you are not eligible to be independent unless you are a military veteran, are married, or have a child. (If you are a ward of the court or are over 24, you would qualify as well, but you are neither.)

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