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What if you have a cosigner that files bankruptcy? What happens with your loans (assuming these are loans that have already been paid and disbursed)?

This is something your cosigner should probably ask their bankruptcy attorney. You already made a loan agreement, so the creditor can't change it, I don't believe. My guess is that you would just want to find a new cosigner for next year.

Here are a couple links that might help:
http://www.totalbankruptcy.com/overview ... uptcy.aspx
http://www.ehow.com/facts_5574896_cosig ... uptcy.html

Hope it all works out!

They have a shot to discharge their obligation to your debt with a very good bankruptcy attorney.

You're still on the hook, and are fine. You'll just need a new cosigner for next set of loans.