On Tuesday the Obama administration has announced a plan to forgive $7.7 billion in student loans for permanently disabled Americans. The administration’s decision will impact an estimated 387,000 Americans, and about 179,000 of them are currently in default. Four years ago the Obama administration took steps to streamline the process of letting Americans who are totally and permanently disabled (TPD) apply to have their loans discharged. There were many eligible borrowers who were falling through the cracks because they were not aware of their eligibility for relief. This article provides steps that people can follow if they are eligible for student loan relief but not contacted. Defaulting on student loan obligations can have severe consequences, so it is important for people to follow the correct procedures when searching for relief.
See Constance Brinkley-Badgett, How to qualify for Obama’s new student loan forgiveness initiative, Springfield News-Sun, April 14, 2016.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
