The government has already begun
sending letters to nearly 400,000 eligible people with permanent disabilities, informing
them of the steps they can take to discharge their student loan debt.
The letter campaign, which began yesterday and will continue over the
next 16 weeks, included 387,000 people who have been identified as having
permanent disability status – nearly 180,000 of which have loans
that are currently in default. It is estimated that the total amount of
loans eligible for forgiveness is around $7.8 billion.
While plans to simplify the loan forgiveness program for permanently disabled
people begun four years ago, the majority of those eligible are not aware
of how to obtain this benefit, or have failed to apply because the process
is complicated. The letter campaign was implemented in order to alert
as many eligible people as possible and share the steps that must be taken
to receive the discharge. Since these individuals have already been pre-screened
for eligibility, they will not have to submit any documentation to prove
their disability status. All that is required is to fill out and return
the enclosed application form.
Disabled individuals who are in default on their student loans run the
risk of losing their valuable SSD benefits and tax refunds through garnishments.
A loss of these benefits could spell disaster for a person with serious
health issues who can no longer work.
Struggling with Student Loan Debt?
If you are struggling to pay back your student loans, now is the time to
contact Wadhwani & Shanfeld. We can help you go over your options
and find a debt solution that works for you. We have earned an A+ rating
from the Better Business Bureau and have helped thousands of clients regain
their financial freedom!
To learn more about how we can help, please schedule a