2021–2022 bankruptcy status review
Financial Aid and Scholarship Services will need to complete a review of your Bankruptcy Status with the National Student Loan Data System (NSLDS) in order to determine your federal student aid (FSA) eligibility. This item holds the awarding and disbursement of financial aid if it is listed on your task list on My ASU.
The Bankruptcy Status Review is required when listed on your Free Application for Federal Student Aid (FAFSA).
Federal Student Aid eligibility and bankruptcy
Financial Aid and Scholarship Services will need to confirm with NSLDS that your Federal Student Aid (FSA) loans or grant overpayment was not listed as defaulted and is not currently in an active bankruptcy status.
If you had any FSA loans or grant over-payments that have been discharged in bankruptcy, you may be eligible for FSA funds.
If you list a defaulted FSA loan or grant over-payment in an active bankruptcy claim, you are NOT eligible for further FSA funds UNLESS you can provide ASU with a document from the holder of the debt stating it is dischargeable. If you are unable to provide ASU with such a document, you will remain ineligible for FSA funds until you clear the defaulted loan(s) by paying the loan in full, by loan rehabilitation, or by loan consolidation. Visit the Federal Student Aid website for details on these options.
If you include a non-defaulted FSA loan in an active bankruptcy claim, so that collection on the loan is stayed (i.e., not being collected upon by debt collectors), you may be eligible for FSA funds as long as you do not have loans in default (including the stayed loan).
You may log into NSLDS with your FSA ID and password to view your eligibility as well.
Instructions
Complete and submit online.
- No action is required by you while Financial Aid and Scholarship Services performs this evaluation.
- However, if you have a defaulted federal student loan or grant overpayment in an active bankruptcy claim, and your debt is dischargeable, click on the e-form below to submit documentation from the holder of the loan to show that the debt is dischargeable.