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Message
re: At least half of students defaulted or failed to pay down debt within 7 years
Posted on 2/22/17 at 10:42 am to shotcaller1
Posted on 2/22/17 at 10:42 am to shotcaller1
quote:
It's called death or permanent disability.
Actually, disability does not qualify you for loan forgiveness, only death. Even if you declare bankruptcy, your student loans aren't forgiven. That's why anyone with student loan debt should take out disability insurance as soon as they start making any money and are eligible to do so.
2
Posted on 2/22/17 at 10:46 am to Patron Saint
Posted on 2/22/17 at 10:48 am to Patron Saint
quote:
Actually, disability does not qualify you for loan forgiveness, only death. Even if you declare bankruptcy, your student loans aren't forgiven. That's why anyone with student loan debt should take out disability insurance as soon as they start making any money and are eligible to do so.
That's not what I said. permanent disability is grounds for forgiveness/dismissal.
quote:
A total and permanent disability (TPD) discharge relieves you from having to repay a William D. Ford Federal Direct Loan (Direct Loan) Program loan, Federal Family Education Loan (FFEL) Program loan, and/or Federal Perkins Loan (Perkins Loan) Program loan or complete a Teacher Education Assistance for College and Higher Education (TEACH) Grant service obligation on the basis of your total and permanent disability.
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