Student Loan Forgiveness Disabled Vet
Are you a disabled veteran who is struggling with student loans? You may be eligible for student loan forgiveness. Here’s the scoop on how to qualify, how much you can expect to get forgiven, and how to apply for your discharge or cancellation.
Who is eligible for student loan forgiveness for disabled veterans?
- If you are a veteran who is permanently disabled and have not been able to find work in your field, you may be eligible for student loan forgiveness for disabled veterans.
- If you are a veteran who is a former prisoner of war (POW), or the spouse of a deceased POW, then you may be eligible for student loan forgiveness for veterans.
- If you are a veteran who is the spouse of a veteran with permanent disabilities and have not been able to find work in your field, then you may be eligible for student loan forgiveness for disabled veterans.
- If you are the spouse of an active duty service member currently on deployment overseas and unable to complete their education due to circumstances beyond their control (such as being injured while serving), then they can apply through Military One Source (MOS) or call 877-MIL-VET(877-645-8387).
Am I eligible for student loan forgiveness or discharge?
For you to be eligible for student loan forgiveness or discharge, you must:
- Be a veteran who is permanently and totally disabled.
- Have been a member of the Armed Forces for at least 10 years: If you retired from the Army, Navy, Air Force, Marine Corps or Coast Guard on or after September 11th 2001, your eligibility period began on that date. If you retired from another branch of military prior to this date but later transferred to one of these branches as a result of an armed conflict as determined by Congress (e.g., Iraq War), your eligibility period begins when your transfer occurred.
Loan Forgiveness and Discharge
You must have a disability that was caused by your military service.
You must have been a member of the U.S. Armed Forces when you became disabled.
You must have been discharged under honorable conditions (unless it’s because you are mentally incompetent).
You must have been a full-time student when you became disabled and for at least one academic year prior to applying for loan discharge benefits through DOD’s Defense Finance and Accounting Service (DFAS) or VA’s Veterans Benefits Administration (VBA), unless: Your disability resulted from an event that occurred while serving on active duty; or You retired from military service with permanent and total disability and cannot qualify under either VA rules or the GI Bill rules because: You did not complete your degree within 15 years after being discharged; or Your degree is not in an area related to your military service; To qualify as permanently disabled under VA rules, you must meet one of the following criteria: You receive compensation due to a permanent loss of function due to an injury incurred in an accident arising out of military service; OR
Your condition was determined by VA as totally disabling when it results from any disease contracted during active military service regardless of its origin or cause
Do disabled veterans qualify for student loan forgiveness?
In order to qualify for student loan forgiveness, a disabled veteran must meet the following criteria:
- Be a veteran.
- Have a service-connected disability.
- Have a creditworthy cosigner (can be mom or dad).
- Have an eligible federal student loan balance (more than $16,500).
- Make 120 monthly payments on their federal student loans under one of the following repayment plans: Income-Driven Repayment Plan (IDR), Standard Repayment Plan, Graduated Repayment Plan, Extended Repayment Plan, Pay As You Earn Repayment Plan (PAYE), Revised Pay As You Earn Repayment Plan (REPAYE), Income Contingent Repayment Plan (ICR), Income Based Repayment Loan Forgiveness Program – Direct Loan Program Only and Graduated Payment Agreement.*You do not have to pay off your entire debt in full or make all 120 monthly payments after you submit your application; instead you just need to make at least one qualifying monthly payment on your eligible federal loans while you wait for approval from the Department of Education.*The sooner you apply for forgiveness eligibility, the better; once approved by the DOE they will only send out notifications via email six months prior before they announce their next round of applications being accepted.*This process can take 7-10 years before full payoff but again we recommend applying as soon as possible because there is no guarantee that this program will continue into future administrations without changes made along the way
You can get your student loans forgiven if you are a disabled veteran.
If you are a disabled veteran, you may be eligible for student loan forgiveness. You can apply for this program by contacting your lender directly. You will need to submit documentation of your disability and a copy of your Certificate of Eligibility (COE), which will be issued by the Department of Veteran Affairs (VA). Your loans must have been repaid in full at the time that you apply for COE and when they are approved for discharge under this program.
If you are a disabled veteran and are looking for ways to pay off your student loans, be sure that you have all of your paperwork ready. You will need proof of your disability and discharge status as well as any other documents related to the event that caused your injury or illness. The Department of Education will do its best to help you through this process but it is up to each individual borrower if they want their loans forgiven or discharged