Disabled veterans can have federal student loan debt forgiven


In this June 20, 2019, photo a student works in the library at Virginia Commonwealth University in Richmond, Va. Those who graduate college with student loans owe close to $30,000 on average, according to the most recent data from the Institute for College Access & Success. (AP Photo/Steve Helber)

A Presidential Memo will streamline federal student loan debt relief for permanently disabled veterans.

The Department of Education expects to notify more than 25,000 eligible veterans and continue the process on a quarterly basis.

Since April 2018 more than $650 million in student loan relief has been given to more than 22,000 eligible veterans.

Veterans will still be able to decline loan forgiveness within 60 days of being notified they are eligible.

Veterans may decline loan relief because of potential state tax liability or because receiving loan relief could make it more difficult to take future student loans.

Eligible veterans who do not opt out of the program will have their remaining student loan balance forgiven and will be reimbursed for payments made following the date of their disability discharge.

The memo follows a letter from 52 Attorneys General requesting automatic forgiveness of student loans for totally and permanently disabled veterans sent in late May.

“Disabled veterans face substantial challenges every day,” said Michigan Attorney General Dana Nessel. “After risking their lives for our country, it’s our duty to support them in every way we can.”

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Michigan Headlines

More Michigan

StormTracker 6 Radar