The F.B.I. on Thursday raided the office of a California solar company that borrowed 8 million from the federal government before filing for bankruptcy, as House Republicans announced that they would call two top Obama administration officials to testify about the case next week.

The federal agents, acting in a joint investigation with the inspector general of the Department of Energy, served search warrants on Solyndra, which announced last week that it was filing for bankruptcy protection. The search was part of an investigation into the loans Solyndra received from the Treasury Department that were guaranteed by the Department of Energy under a highly promoted federal stimulus program.

Solyndra was a leading beneficiary of the Energy Department’s programs to promote alternative energy, which were expanded as part of the 2009 economic stimulus legislation.

George Kaiser, an Oklahoma billionaire, is one of the largest investors in Solyndra through Argonaut Ventures and a family foundation, and he was also a donor to Mr. Obama’s 2008 campaign. The company had begun preparing its federal loan application well before the election.

http://www.nytimes.com/2011/09/09/business/solar-company-is-searched-by-fbi.html

Oh did I mention that you can subtract 1,700 MORE jobs that Obama has lost read the article

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I think I read somewhere that if the loan is a federal loan then you can’t. Also if someone co-signed for me do both of us have to file for bankruptcy.
Tried contacting them…they stated that it went into default a week ago and they can’t do anything about it.
Could I file chapter 7. I only have 2 defaulted loans and the rest ok.

Technorati Tags: bankruptcy, chapter 7, defaulted loans, federal loan

I have seen many people here ask if they can get student loans after a bankruptcy, and I have seen many people answer that yes, it is possible and the federal loan application process does not consider bankruptcy. However, I need to know if a private lender (such as Sallie Mae) follows the same rules (i.e. doesn’t consider credit or a bankruptcy) in the application process? I live in California.

Technorati Tags: application process, bankruptcy, federal loan, loan application, private lender, sallie mae, student loans

I am beginning to regret going to college, it seems the only thing I have attained from it, is debt. When I went to school I was allured to the dream of being an airline pilot. I finally got my pilot’s license, but it got to expensive, so I switched to Aviation Management. I am so depressed and mad at myself for letting this happen, and it seems like there is no way out. A few times I forgot to fill out the FAFSA so I had to take out loans to cover the expenses, or I was late getting it in and got no money.

Here’s where I am at:
1 Loan for ,000 (Monthly Payments of 476/mo); 1 Loan for 620 (Monthly Payments of 128); 1 Loan for 00 (Monthly Payments of 50), and Credit Card Debt of about 00. So I have loans totaling 420.

I also have a car payment, cell phone, however I pay no rent, but my grandparents will soon be asking for that.

I just got a new job that pays me 000 per year. So if I don’t put anything into savings I can pay off my loans in about 4 years, however when you begin to figure in my other expenses it’s more like 7 years.

Consolidation is not really an option, because the 000 is an “Education Alternative Loan”, it’s not a federal loan. The 00 loan is a no interest loan. And the 620 is a direct federal loan.

-My dilemma is that, I have a girlfriend that I want to begin a life with. I wish to get an apartment with her maybe in the next year or so. And I want to marry her.

Situation 1- Do I put no money into savings and just tackle the loans head on? I will have no money for retirement or a down payment on a house.

Situation 2- I put some money aside into savings, and it will take longer to pay off?

Situation 3- Declare bankruptcy if I can?

I apologize for this taking so long, but I don’t know what to do. Thank you for your help.

Technorati Tags: airline pilot, apartment, aviation management, bankruptcy, car payment, cell phone, consolidation, credit card debt, dilemma, education, fafsa, federal loan, girlfriend, going to college, grandparents, interest loan, loans, money, new job, retirement