As part of my practice I assist those with disabilities get their student loan debt forgiven. It has now gotten much easier.
On Tuesday, 4/12/16, the Department of Education announced a new program that will identify hundreds of thousands of borrowers who are eligible to apply for federal student loan forgiveness.
To qualify for this program you must be receiving Social Security Disability benefits and be deemed permanently disabled and unable to ever work again.
Starting on April 18, 2016, the Department of Education will start sending letters to about 387,000 people explaining that they are eligible for loan forgiveness. The letter will include an application that they will simply sign and return. Unlike other borrowers, they will not be required to submit documentation of their eligibility.
Under this program. once the student loan is “erased”, a three-year monitoring period will begin. If the borrower’s earning status changes and increases above a certain threshold, he or she may have their loan reinstated and they will have to start making payments again.
Posted by Sheri R. Abrams, Attorney at Law, Fairfax Virginia, www.sheriabrams.com.