<p>Does anyone know how bankruptcy affects the amount of financial aid you can get? My family filed for bankruptcy about a year and a half ago, so my parents aren't allowed to take out loans. Will they be generous, or am I screwed?</p>
<p>Bankruptcy does not help your situation because personal debt is not part of the financial aid equation. Your parents filing bankruptcy does not impat the EFC that they will be expected to pay nor will schools increase the amount of aid to you because of it. If they are not eligible for PLUS loans then you will have to take our unsubsidized loans.</p>