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Student Loans For Private Colleges

Samuel Said:

can private sallie mae signature student loans for c. colleges be discharged by bankruptcy?

We Answered:

No, they cannot be discharged unless you can prove an undue burden (normally this requires a permanent disability). Lots of people claim to have private loans but the loans are till subject to the same rules as stafford loans, and in fact stafford loans are borrowed from private banks, not the government.

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