Total and Permanent disability (TPD) Loan Discharge for Medical School?

[Rhorn]

Hi guys,

Just curious if anyone knows about this program? It seems like the only qualification is that you need to be 100% P&T (which I am). I previously thought thought that there was an income limit or that you needed to be on social security to use this but when I look in the official website I don't see anything of that. I only recently have been awarded 100 P&T and still learning about the additional benefits.

So if I were to get into medical school would I be able to get the loans forgiven through this program?

https://studentaid.gov/manage-loans/forgiveness-cancellation/disability-discharge

I never taken out loans for college, because I started at community college and am using my GI Bill for the university. Don't really understand how loans work so I might have to take them out during medical school if VR&E doesn't work out.

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[BC_89]

If you're 100% P&T, without a shadow of a doubt any and all fed loans you pull out will be wiped out (no questions asked). You do not need a physicians signature/form, you do not need to be drawing out social security, you do not need to submit taxed income or lack thereof. Logon to your e-benefits account, print out the summary statement of your disabilities + pension and submit to the U.S. Department of Education.

The idea behind this is that you can't work, thus you can't pay back loans. The loophole (some may call unethical) is that a 100% P&T veteran can max out his/her fed loans while in school, graduate, then claim loan forgiveness by virtue of the disability rating and never pay back the loan. This is a "one-hit-wonder" submission though. In other words, once you've filed for the loan forgiveness based on veteran status disability claim, you cannot do it again for future loans. It's done.

Once submitted, you'll be informed of the date your loans were forgiven as well as a drop off of loan establishment on your credit report within 60-90 days of submitting. For extra security, you can look on Credit Karma for free and just monitor monthly if your final loan amount has dropped off.