My question involves bankruptcy in the state of: Arizona.
Hello,
I have a question regarding student loans. I have several private medical school student loans that I acquired while attending an offshore medical school. My school is not a Title IV school. Therefore, is not an eligible institution according to 26 U.S.C. § 221 (d)(2)(referring to 26 U.S.C. § 25A(f)(2)(B)). According to authors Deanne Loonin and John Rao of National Consumer Law Center publication, "Student Loan Law" (3rd edition 2006).I am doing my own bankruptcy because I can't find a lawyer that wants to deal with this. So, I want as much help as I can. Do you think this is an appropriate arguement to allow discharge?Title IV refers to the title of the HEA that govers federal financial asistance programs. Most, but not all, schools are eligible to participate in these programs. For example, numerous unaccredited schools have gone in and out of business in recent years. These unaccredited schools arenot eligible to participate in the Title IV programs. Other scam programs such as "diploma mills" are also not eligible to participate in Title IV programs. Borrowers with student loans from these schools schould be able to discharge the loans without having to prove hardship.
Next, I have several residency and relocation loans. These loans are similar to the bar exam loans available to lawyers. I have called and found that these loans are not student loans. They do not qualify for interst deduction according to the private banks I called and the IRS because the funding is not for qualified educational expenses. Therefore these should be treated as regular unsecured debt. Is it fair to follow this line of reasoning??
Thanks

