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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 ...
Research shows that access to student loans increases credit-constrained students' degree completion, later-life earnings, and student loan repayment while having no impact on overall debt. [3] Student loan debt has proliferated since 2006, totaling $1.73 trillion by July 2021. In 2019, students who borrowed to complete a bachelor's degree had ...
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 ...
The Biden administration recently announced that it has cancelled $7 billion in federal student loan debt for about 350,000 borrowers with disabilities through a data-sharing initiative between the...
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