student loans

What is the name of your state? va
I was reading a previous post and saw something in there that stated if a student loan is over 7 years old, you might be able to discharge it. I went to some of the web sites and I'm thinking I might fit into this**************.....

Student loan taken out in 10/94.
In deferment for approx 2 years while I went back to school.
Still paying on it now with a balance of $3800.00. I would love to include this in my chapter 7 a couple months down the road.

Another route**************the school closed in 2000, it was a vocational school that sucks you in with the idea of a great job in only 6 months. Problem is that doesn't happen and it cost twice as much as college and is not accredited. Oh the mistakes we make.
Anyway I was reading this might be another route but I'm thinking this is a long shot.

Thoughts/Ideas.

Thanks.
ta

[Elmo-1]

It's more than a long shot - it's not even a shot at all. The laws for dischargibility of 7-year old student loans changed several years ago.

The bubble-buster on the books now is WHEN you filed. If you're filing now, or for anyone filing since October 8, 1998, they're not dischargable for all intents and purposes. The following site has the specific info:

[url]http://www.ed.gov/offices/OSFAP/DCS/disputes.html#Bankruptcy[/url]

Even if the school closed down, they've long since received their money. The institution that made the loan is backed by gov guaranteed funds, so you indirectly owe the government.

gotcha. I figured so much. thanks.