While you are likely aware that it is difficult to discharge student loans in a personal bankruptcy filing, there are some ways you can get your federal student loan debt “forgiven.” Some of the ways to have your student loan forgiven are:
- Total and Permanent Disability (“TPD”). An individual who is totally and permanently disabled may be able to obtain a TPD discharge, which eliminates your liability to repay certain federal student loans.
- Teachers. You may be able to have as must as $17,500 of your subsidized or unsubsidized loans forgiven, if you are a new borrower and you teach full-time in a low-income elementary or secondary school for five consecutive years.
- Public Service. The law allows individuals employed in certain public service jobs that have made 120 payments on their direct student loans to have the remaining balance forgiven.
- Closed School. If your school closes while you are enrolled or within 90 days after you withdraw, you may be eligible to discharge certain federal loans that were obtained to attend that school.
- Death. When a student loan borrower dies, his/her federal loans are discharged.
The above list is not exhaustive. If you are interested in determining whether you are eligible to have your federal student loans forgiven, contact the attorneys at DeLadurantey Law Office to schedule an initial consultation.
If you would like a down-to-earth approach and a lawyer who will listen carefully to all your questions and concerns, call DeLadurantey Law Office, LLC,at (414) 377-0518. We serve clients primarily in the areas of student loan law, Chapter 7 and Chapter 13 bankruptcies, debt negotiations and defending foreclosure actions. If you live in the area of Milwaukee, Wisconsin, call us for the debt relief assistance you need. Visit our web site and like us on Facebook.