I wanted to share this with the military and veterans community. With all the sad craziness going on in the news about the government, we can use some good news for a change. I found an article from the military times that featured a federal program called Total and Permanent Disability Discharge, or TPD. So far, it has made 42,000 veterans eligible for student loan forgiveness. This also includes forgiveness of federal student loans disabled veterans take out on their children. Veterans who qualify have either a permanent service-connected disability, or receive disability benefits at the 100% level.
Since October, 42,000 eligible veterans have been contacted and 7,700 had their loans discharged. It may not seem like a lot so far, but that's relief for 7,700 families, and hopefully more to come. It still isn't perfect, but I think as the program progresses and those running it get more experience, the kinks will get ironed out, and hopefully even more disabled vets will get the help they deserve. Does anyone think they should expand the qualifications for loan forgiveness? Should it stay at the 100% level, or be changed?
Personally, I think if you are not in the position to repay your student loan due to medical or some other viable reason and if you are over 70% disabled you should get the same relief as someone who is 100% disabled! Getting a 100% rating from the VA is not an easy rate to get, but people who are not financially able to repay the debt should be considered for relief as well.