Student loan forgiveness/discharge due to disability?
I have been disabled for a while and have just been approved for discharge of my student loans. The guarantor paid off my loans – I haven’t gotten all of the paperwork (but Sallie Mae just verified over the phone that they no longer hold the loan, it’s been paid in full) from the guarantor yet. I noticed that my preliminary letter said something about a requirement of “not having annual earnings from work in excess of the poverty level for a family of two.”
Question: Does this annual earnings requirement apply only to me, or to my entire household’s (i.e. husband’s) income? If it applies to the entire household income, that seems pretty excessive. If it applies to me, then it seems like a silly requirement. If I could work in any capacity then I wouldn’t have requested a loan discharge!
Any insight would be appreciated.
I believe that it is only looking at your income or ability to earn income since you are the borrower and only you would be expected to make student loan payments. But check with the lender/guarantor for clarification.
Reminder: once your student loans are discharged due to disability, you will not be eligible for additional student loans for advanced degrees.
