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Ask Dave

Can The Loans Be Forgiven?

Janelle is on permanent disability. Could she petition for her student loans to be forgiven?

QUESTION: Janelle in Utah, a My Total Money Makeover member, is on permanent disability. Could she petition for her student loans to be forgiven? Dave agrees that she should, but it will take a lot of work to get through the red tape.

ANSWER: No, it’s not an issue of conscience. If you have been declared permanently disabled, federally insured student loans should be and can be and are forgiven. I will tell you in advance that it is going to take you a lot of work to get through the red tape. You’ll be swimming in red tape for a while, but I think it’s fair to do that if you have been declared totally disabled.