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$45K in student loans forgiven--free at last!

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    $45K in student loans forgiven--free at last!

    Well, it has finally happened and it didn't take up to three years--per Sallie Mae's web site. Sallie Mae's process for student loan forgiveness for the disabled worked and rather smoothly at that.

    Approximately 60 days after my application was forwarded, I received notification that the loans were being written off. I just happened to check all three credit bureaus on the first of this month and the accounts at all three bureaus have been closed and my total debt has been reduced dramatically. I'm just waiting on the reimbursement payment now.

    This is just one less burden to worry about in this crazy EXPENSIVE SCI life. Aaahhh....

    #2
    Wish I could have done that ): Congrats to you.
    If you can't handle me at my worst, then you sure as hell don't deserve me at my best.


    Sometimes it is easier to widen doors than it is to open minds.

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      #3
      WheelieBoy, can you tell me your history where the loans are concerned? Did you get the loans before your SCI? Is that why they were "forgiven?"

      thanks for any info...
      Please donate a dollar a day at http://justadollarplease.org.
      Copy and paste this message to the bottom of your signature.

      Thanks!

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        #4
        Thanks Addie. Glad to read you are doing better as well. You are a strong "chica."

        RDF, my loans were acquired primarily from grad school, yes, pre-injury. My loans were forgiven because I'm not able to work currently. However, Sallie Mae's stance on forgiveness is that if you acquired loans after injury and the condition has deteriated such that you are permanently disabled and unable to work then you are still eligible.

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          #5
          Loans prior to 2000 are ineligible.
          If you can't handle me at my worst, then you sure as hell don't deserve me at my best.


          Sometimes it is easier to widen doors than it is to open minds.

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            #6
            Originally posted by addiesue
            Loans prior to 2000 are ineligible.
            I remember you telling me your lender gave you grief. Guess it depends on the lender. All my loans from Sallie Mae are from 1994-96.

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              #7
              Edfinancial
              If you can't handle me at my worst, then you sure as hell don't deserve me at my best.


              Sometimes it is easier to widen doors than it is to open minds.

              Comment


                #8
                I am dreading student loans after I graduate. I don't think it will be that bad for me, and I do have good saving and spending habits, but it still won't be fun to pay them off for a few years.

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                  #9
                  Originally posted by Wheelieboy
                  My loans were forgiven because I'm not able to work currently.
                  You signed a letter stating that you would never be able to work again. It would be interesting to hear how this turns out once you start working again. Are the loans still forgiven at that point?
                  C5 injury with partial C6 function on left.

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                    #10
                    Originally posted by Lewis
                    You signed a letter stating that you would never be able to work again. It would be interesting to hear how this turns out once you start working again. Are the loans still forgiven at that point?
                    I am wondering about this as well. All my loans are pre-injury. I am going back to school with the help of Voc Rehab and KPERS disability. I haven't tried this because I do hope to work again someday...

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                      #11
                      Originally posted by Bonita
                      I am wondering about this as well. All my loans are pre-injury. I am going back to school with the help of Voc Rehab and KPERS disability. I haven't tried this because I do hope to work again someday...
                      Same here.
                      C5 injury with partial C6 function on left.

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                        #12
                        There is a three year conditional period during which you cannot work because the loan cancellation would be cancelled and you would owe the amount again. Some rules will change next year in July 2009. Like limiting how much of your income can be demanded for loan payment (15% of any amount you make over 150% of the poverty level for your state ) and any loans over twenty five years old can be cancelled and all kinds of changes making it easier to live with student loans. Research income based student loan repayment reform at finaid.org. There is even a calculator function on the website, plus info on individual state poverty levels.
                        Last edited by skippy13; 30 Apr 2008, 8:06 PM.
                        Anything worth doing, is worth doing to excess

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