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School Loan Forgiveness

Is there information on school loan forgiveness due to family hardship - death of a spouse?


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A great education without going broke

Zac Bissonnette is WalletPop's College Expert 

Hello Iraz,

First of all I'm sorry for your loss, or the loss of whoever it is that you're asking this question for. Personal tragedies can create tremendous financial hardships.

Unfortunately, it is highly unlikely that you will be able to qualify for loan forgiveness based on the death of a spouse. Sometimes student loan debt is forgiven based on hardships, but it would generally be something like a permanent disability. According to the DOE, "Permanent disability or death will allow for 100 percent forgiveness of your loan, but obviously have serious downsides that limit their popularity."

In making decision about debt forgiveness, they want to see that not only will your income be impaired now but that it will also be impaired infinitely into the future.

Sorry for the bad news.

Be well,

Zac


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