When Can I Include My Student Loan in a Bankruptcy?

Personal bankruptcy can be a complex process, often raising numerous questions. One common query pertains to the inclusion of student loans. Here, we delve into when and how student loans can be incorporated into a bankruptcy filing.

Understanding Personal Bankruptcy

First, it’s crucial to understand personal bankruptcy. When a person is unable to pay their debts, they may opt for bankruptcy as a solution. This process aims to give the debtor a fresh financial start while ensuring fair treatment of creditors.

The Seven-Year Rule

When it comes to student loans, there’s a significant rule to remember: the Seven-Year Rule. This rule stipulates that student loan debts can be eliminated in personal bankruptcy after you’ve ceased to be a student for at least seven years.

Calculating the Seven Years

It’s important to note that these seven years are counted from the date one ceases being a student, not from when the loan was taken. So, if you received your final student loan in the Fall of 2008 and graduated in May 2009, the seven-year calculation would start from May 31, 2009.

Confirming the End-Of-Student Status Date

If you’re unsure about your end-of-student status date, it’s best to contact your former institution for clarification before filing for bankruptcy.

Struggling with Student Loan Repayment

If you find it challenging to repay your student loan, it’s important to seek help. You can reach out to financial consultants for guidance.

The Role of a Financial Consultant

A financial consultant can provide a free initial consultation, discuss your financial situation, and guide you through possible solutions, including bankruptcy. They can also help clarify any confusion regarding the seven-year rule and its application to your specific situation.

Importance of Seeking Professional Help

Dealing with student loans and bankruptcy can be overwhelming. It’s crucial to seek professional help to ensure you’re making informed decisions that align with your best interests.

The Path Forward

Remember, bankruptcy isn’t the end; it’s a new beginning. It provides an opportunity to rebuild your financial life, free from the burden of unmanageable debts.


In conclusion, it’s possible to include your student loan in a bankruptcy filing, provided you’ve ceased being a student for at least seven years. However, the process can be complex and requires careful consideration. Therefore, it’s advisable to seek professional advice to navigate this challenging journey.

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