Posted on Dec 1, 2014
100% Disability and Student Loan Forgiveness Info.
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RallyPoint family. Please spread the word that your Federal student loans are eligible for complete forgiveness if you have been rated at 100% permanent disability. Contact your student loan provider and ask them about this program. You will receive an email from them within 48 hours and it will list all the supporting documentation that they will require. They will place your loans in deferrment during this process as well. If you have any questions, please feel free to contact me 24/7. If I can't come up with the answer I can give you the appropriate POC's. I am sure there are several members on RallyPoint that are also more knowledgeable in this area.
Edited 10 y ago
Posted 10 y ago
Responses: 9
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SFC Mark Merino Thanks for sharing, wow, if this is true, then there are now two ways to erase your school debts without paying for them...what you mentioned above and death. You cannot claim bankruptcy and erase your school debt. However, you could transfer your school balances to a credit card and claim bankruptcy, so I guess there is always a loophole.
It is called defaulting on your loan and interest and penalties continue to accrue, so it is never wise to think your school debt is going to go away this way.
In addition to what you mentioned, there is a National Guard Tuition Reimbursement Program with lots of small print to qualify...ask your recruiter to see if you qualify. After all is said and done, the Montgomery GI Bill and US military will have paid for $90k of my school debt, and yet my balance will still be over $100k. Yikes!
The National Guard had for years, a SLRP - Student Loan Reimbursement Program. I got in when the money was there. $50k over 6 years to be paid back, but it is now pre-taxed. It went from $7500 to $4950 after tax.
It is called defaulting on your loan and interest and penalties continue to accrue, so it is never wise to think your school debt is going to go away this way.
In addition to what you mentioned, there is a National Guard Tuition Reimbursement Program with lots of small print to qualify...ask your recruiter to see if you qualify. After all is said and done, the Montgomery GI Bill and US military will have paid for $90k of my school debt, and yet my balance will still be over $100k. Yikes!
The National Guard had for years, a SLRP - Student Loan Reimbursement Program. I got in when the money was there. $50k over 6 years to be paid back, but it is now pre-taxed. It went from $7500 to $4950 after tax.
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I think that is awesome, especially when I look around at some of the things I see at work......
There is nobody who is more deserving of an education than a disabled vet. Nobody.
There is nobody who is more deserving of an education than a disabled vet. Nobody.
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SFC Mark Merino
Shot out for my mom. I went through this with the student loan people round and round getting bad intel for months. I owe my stubbornness to her. (lol)
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