Are you a veteran with outstanding student loans? You may qualify for student loan forgiveness.
How? Veterans who are 100% permanent and totally disabled, or in receipt of individual unemployability through the Department of Veterans Affairs due to their service-connected disability and have outstanding federal school loans, can apply to have the remainder of their balances forgiven.
The Total and Permanent Disability (TPD) Discharge Program offers this benefit through the U.S. Department of Education.
For those borrowers who qualify, a total and permanent disability discharge relieves them from having to repay a William D. Ford Federal Direct Loan (Direct Loan) Program loan, a Federal Family Education Loan (FFEL) Program loan, and/or a Federal Perkins Loan or to complete a TEACH Grant service obligation.
Of note: before federal student loans or TEACH Grant service obligations can be discharged, information must be provided to the Department of Education to show that the requirements for being considered totally and permanently disabled are met.
Need help figuring out if you qualify? The trained Veteran Service Officers through the Veterans Assistance Commission of McHenry County can assist you in gathering the required documentation and submitting a successful claim.
For those who are approved, the Department of Education will instruct the loan holders to return any loan payments received on or after your disability date to the person who made the payments.
For more information about the Total and Permanent Disability discharge process, visit disabilitydischarge.com, or call the VAC at (815) 334-4229.
Veterans Assistance Commission : 667 Ware Road : Woodstock, IL 60098 : 815.334.4229