When you hear the teams “forgiveness,” “cancellation,” or “discharge,” it generally means you’re no longer required to make payment on your loans due to your circumstances.
These circumstances may include:
- Total and permanent disability
If the primary borrower on your account dies, the loan is discharged after proof of death is submitted by a family member or other representative. Acceptable documentation includes an organ donor certificate, a certified copy of the death certificate, or an accurate and complete photocopy of one of those documents. You’re welcome to contact us if you have any questions.
Total and Permanent Disability
If you have experienced total and permanent disability, you may be eligible for discharge. To provide information related to your disability, please provide your Social Security Administration (SSA) statement indicating that you are receiving Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) benefits, a Veterans Administration determination, or certification from a doctor of medicine (M.D.) or osteopathy (D.O.) who is licensed to practice in the United States that you are totally and permanently disabled.
If your bankruptcy petition is granted by a court, and the bankruptcy covers your loans, we will charge off your loan. Note that private student loans are typically not dischargeable in bankruptcy.
Depending on the terms of your loan agreement, by withdrawing from a school program, you may be eligible to receive a partial or full refund for the loan. Since the amount of the refund, or whether you get a refund at all, is dependent on your loan terms, we always recommend contacting us for more specific details.