In a word, yes. There’s no caveat to repaying your student loans saying that you have to finish your classes or even earn a degree. If you didn’t withdraw from a class or classes within your school’s designated time period for dropping classes, then you’ll still owe on the tuition and, thus, your student loans. Now, if your school was closed while you were attending (or within 120 days of withdrawal), you might be eligible for student loan forgiveness in the form of closed school discharge. You can find out if you qualify here. Want to learn more? Click here to find out more about what happens to your loans if you leave school, and how to avoid default.Read More →
Do I still owe on my student loans if I left school?
Can student loans be discharged through bankruptcy and how is that reflected on my credit report?
Student loans are difficult, though not technically impossible, to discharge through bankruptcy. The only way to declare bankruptcy on student loans is to file an adversary proceeding, which would ask the court to see that paying on your student loans would cause you something called “undue hardship.” Undue hardship is determined by factors such as the inability to have a “minimal standard of living” while paying the loans, proof that this situation of undue hardship will endure for a large portion of the repayment period, and an honest effort to have made payments on the loans up until this point. As for your credit report, a bankruptcy of any kind will live on your credit report for several years. ARead More →