Student loan debts are one of the more common debts to have, and we are frequently asked whether you can get a student loan discharged or cancelled. The answer depends on what kind of loan you have. If the loan is a private loan, the requirements of qualifying for a discharge are determined by the contract of the loan. You can request a copy of your loan contract by contacting the loan servicing company.If your loan is from the U.S. Department of Education, a federal loan, there are limited circumstances for getting a student loan discharged or cancelled. The two main categories are: (1) there are serious problems with the school you attended, or (2) a disability cancellation.A discharge of student loans based on serious problems with your school requires one of the following circumstances: the school closed while you were enrolled or within 90 days of your leaving, the school owed you a refund and never paid, there were serious problems with the admission process (like you lacked an admission test, required degree or diploma), or a state law at the time would have disqualified you from obtaining a license for that field of student.A discharge based on your disability requires proof from a physician that you are unable to engage in any substantial gainful activity due to a condition that has lasted for a continuous period of 60+ months (5 years) or can be expected to last for a continuous period of 60+ months.If you have student loan debt and would like to consult about your legal options, please contact us today!
These blog posts are for general informational purposes only and do not constitute legal advice. Laws may have changed since the date of publication.
