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Total and Permanent Disability Discharge: This form of student loan forgiveness encompasses borrowers who may qualify if they suffer from a mental or physical disability that is permanent or ...
To apply for student loan forgiveness, you’ll need to submit a Total and Permanent Disability Discharge application on the Federal Student Aid website and provide supporting documentation of ...
The total discharged debt includes $51 billion for 715,000 borrowers through the public service loan forgiveness ; $11.7 billion for permanent disability discharges for more than 513,000 borrowers ...
The U.S. Department of Education announced that it will automatically forgive federal student loans for at least 323,000 borrowers who have total and permanent disabilities. An estimated $5.8 ...
One exception to the requirement to file 1099-C is when a student loan has been discharged due to the death or permanent disability of the borrower under provisions of the Tax Cuts and Jobs Act of 2017. The IRS has issued a notice that lenders or servicers of loans discharged under these provisions are not required to issue Form 1099-C, and ...
This stress is one of the reasons that student loan borrowers with disabilities can fall behind on payments and go into delinquency and default -- even though there are options available to help ...
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