Hi! My question is regarding the student loans for people with psych disability?
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Unless the law has changed since 1997, yes you can get them forgiven. That is why you pay insurance on your loan as part of the origination fee.
If you are still able to attend graduate school, you are not disabled. You have a medical condition that is not disabling. You will not qualify.
If you have a diagnosis already and are aware of your disability, but go to school anyhow with full knowledge that you may not be able to use your education in gainful employment, then it will not be forgiven. But again, you are CLEARLY not disabled if you are able to attend graduate school
If, in a few years, your bipolar disorder gets much worse so that you cant' function at all, can't keep ANY kind of job, then you can get it forgiven.
This information is 100% correct, unless the law has recently changed. A supreme court decision recently addressed the deal if a disabled person goes to school and later wants the loans forgiven, he couldn't because he was already disabled when he went to school (I dunno how he could be totally disabled and get a degree, seems questionable to me).
I know this because I attended graduate school and had my loans forgiven because I became totally disabled due to bipolar disorder.
Don't count on it!
You can get a grant to go to school to free but there is nothing to help you with debts after the fact. It doesn't matter when you were diagnosed either.
The only way repayment of your student loans can be forgiven for a medically related reason is if you are declared disabled by the social security administration, and get on disability. You also have to be done with your education...you can't keep accumulating debt that you know will not get paid...and you'll never be able to use that grad school degree.
Unfortunately, this is NOT true. Student loans are there for life until paid. The only way to get rid of a student loan is either through full payment or death. Check out this website and tell your student loan story: www.studentloanjustice.org
Not true but you can get grants from the government due to your disability. Vocational Rehabilitation services can assist you.
In addition to what the others said, you can get a deferral if you're unable to work for a short time, but they are available to anyone in that situation.
Here is an excellent site with some wonderful options 4 U. Check it out……..
http://lnk.in/4wwx
I just completed the process..It does work but as it has been said you cannot work and are limited on income during the process.
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