Question: I was told that student loans can no longer be put in with bankruptcy in Ontario? I have searched for the answer as of 2010, but haven’t seen anything indicating that it can’t be included.
Answer: A student loan is automatically discharged if you file for bankruptcy in Ontario if it has been over seven years when since you ceased to be a student when you file for bankruptcy.
So, the answer to your question is this: if you are a recent graduate and you go bankrupt, your student loan will not be discharged in your bankruptcy. However, if you have been out of school for more than seven years, your student loan will be automatically discharged.
For more information, please consult the student loans and bankruptcy information site.
Tags: student loan