Before anything else, there's one question that decides which path your student loan case takes: who owns your loans?
The Justice Department's attestation process applies to federal student loans held by the U.S. Department of Education. Many borrowers assume all federal loans qualify. Some don't.
Why ownership matters
Federal student loans have been made under several programs over the years. Today, most are Direct Loans, made and held by the Department of Education. But older loans may have been made by banks under the Federal Family Education Loan (FFEL) program, or by schools under the Perkins program. Some of those are still held by banks, guaranty agencies or schools — not by the Department of Education.
What counts is who owns the loan on the day your bankruptcy case is filed.
How to check
- Go to studentaid.gov and log in with your FSA ID.
- Open your dashboard and view your loan details.
- Look at each loan's type and who holds or services it.
Loans whose names begin with "Direct" (for example, Direct Subsidized, Direct Unsubsidized, Direct PLUS or Direct Consolidation) are generally held by the Department of Education. FFEL and Perkins loans need a closer look, because the holder may be a bank, a guaranty agency or a school.
Download or print your loan summary. You'll need it for your consultation.
What if my loans aren't held by the Department of Education?
You may still have options. In some cases, older FFEL or Perkins loans can be consolidated into a Direct Consolidation Loan before a bankruptcy case is filed. Timing is critical, and consolidation has other consequences, so get advice before you consolidate.
Private student loans from banks and other lenders are not federal loans and don't use the attestation process. Our office does not handle private student loans.
Bring it to your consultation
Your studentaid.gov loan summary is the single most useful document for your first conversation with us. Call 702-386-8600 to schedule a free consultation.