Student Loan Repayment Program Consultants
Every student loan is really based on a wager: You agree to take on a loan in order to pay a large bill that you can’t afford, and in exchange you get the ability to pursue a career that will pay you enough to afford the loan payments. But what if that career doesn’t materialize? Or what if you’re partway into paying off your loan when your career is cut short-as might happen in the case of disability? Fortunately, with certain federal loans (and a very few private ones), there is relief.
A Total and Permanent Disability (TPD) discharge relieves you from having to repay a William D. Ford Federal Direct Loan (Direct Loan) Program loan, Federal Family Education Loan (FFEL) Program loan, and/or Federal Perkins Loan (Perkins Loan) Program loan or complete a TEACH Grant service obligation on the basis of your total and permanent disability. Before your federal student loans or TEACH Grant service obligation can be discharged, you must provide information to the Department to show that you are totally and permanently disabled. The Department will evaluate the information and determine if you qualify for a TPD discharge.
If you think you might qualify and want to apply for a TPD discharge, you must provide the information the Department needs to make a determination by completing a TPD discharge application and gathering supporting documentation that shows you are totally and permanently disabled. Depending on your situation, you will either attach the supporting documentation to your application or have your physician complete Section 4 of your application. Once everything is complete, you’ll mail the discharge application and, if required, the supporting documentation to us.
Not all federal student loans are eligible for TPD discharge. You will only be considered for disability discharge if your loan falls into one of these categories:
If you received a TEACH Grant, a TPD discharge also relieves you of your TEACH Grant service obligation.
You can show that you qualify for a TPD discharge by providing documentation from one of three sources, each of which has its own requirements for documentation.
If you’re a veteran, you can qualify for a TPD discharge by providing documentation from VA that shows you have received a VA disability determination because you:
You can qualify for a TPD discharge if you’re eligible for Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI). In addition, you must provide documents that show that one of the following is true:
To prove the above, provide a copy of either: A. your SSA notice of award, or B. your Benefits Planning Query.
*The SSA determines this date based on documentation in your case files.
You can qualify for a TPD discharge by having an authorized medical professional certify on the TPD discharge application that you are unable to engage in any substantial gainful activity (a level of work performed for pay or profit that involves doing significant physical or mental activities, or a combination of both) due to a physical or mental impairment that:
The medical professional who certifies your TPD discharge application must be licensed to practice in the United States as one of the following:
If you haven’t gotten an automatic discharge letter, here’s how you can apply for TPD discharge:
You can designate an individual or organization, e.g., a family member or veterans’ service organization, to complete and submit your TPD discharge application on your behalf and to assist you throughout the discharge process. To designate a representative, you and your representative must complete an Applicant Representative Designation form. Two important things to remember:
If you haven’t gotten an automatic discharge letter, here’s how you can apply for TPD discharge:
If the Department of Education approves your application, your loan will be discharged and you will not be required to make further payments (or further service under your TEACH obligation). Beyond this, any payments you have made on or after your date of disability will be returned to you.
For the purposes of this provision, the date of disability is:
OR
If your loan is discharged on the basis of VA documentation of your service-related permanent disability, then nothing further is required. Your loan will be discharged and no further payments will be required.
But if your loan is discharged on the basis of SSA documentation of SSDI/SSI benefits OR on the basis of a physician’s certification of your disability, then your approved discharge will be subject to a three-year period of monitoring.
During the three-year period of monitoring, your loan obligations (and/or TEACH service obligations) will be reinstated if:
OR
OR
Once your application for TPD discharge is received, you will not be required to make loan payments until a decision on your application is rendered. If your application is denied, loan holders will be instructed to resume collection activity. The letter notifying you of the denial will instruct you on how you may go about applying for reconsideration of your application.
The premise of disability discharge is that you are unable to work and, therefore, unable to pay off your loan. For this reason, if you are subject to a three-year monitoring period, it is not possible to apply for new Direct loans, Perkins loans, or TEACH grant during that period, unless:
OR
If the amount of your loan discharge is $600 or more, then the Department of Education will report this amount as income to the IRS, and it may be taxable on the federal and/or state level. This is an important consideration when you are deciding whether or not to apply for a TPD discharge. Since their disability prevents them from working, some people find that the tax obligation incurred by the discharge is more than they can meet without gainful employment. In such a case, it may be wise to consider alternatives to loan discharge, such as an income-driven repayment plan. For some people, an income-driven repayment plan may have monthly payments as low as $0 per month! And what’s more, after 20 or 25 years of meeting these income-driven repayments, the loan is eligible for forgiveness. So, before you jump into a TPD loan discharge, look into the tax obligation this will incur, and carefully consider all of your options.
Collecting the proper documentation, determining your tax obligation, and deciding between TPD discharge and other options, like an income-driven repayment plan, can all seem rather complicated. Fortunately, you don’t have to do it alone! We are here to help. Contact us to discuss your eligibility for TPD discharge and other options.
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