News out of the US Department of Education is making waves in the Social Security Administration (SSA). The department just announced that it will be making it easier for students who have suffered a serious, permanent disability to have their student loans forgiven with documentation from the SSA.
The average Social Security disability benefits payment is $1,111 per month. This is often barely enough to cover a person’s essential monthly expenses. According to Forbes magazine, the average student comes out of school with $25,000 in student loan debt. Forgiving the student this cost will enable him or her to pay monthly bills and not incur additional debt.
The system has not yet come into effect, nor has it been publicly announced. Once it is in place, students will be able to submit official documentation from the SSA recognizing their disabilities. If the SSA states that the student has a “permanent, long-term disability” and is not scheduled for a medical review in the next five years, he or she will be able to discharge federal loans immediately.
Of course, students who suffer from a debilitating disability will have to go through the Social Security application process, which can stretch out into months or years. During this time, you may still have to make monthly student loan payments. This is all the more reason to work with a Tulsa Social Security disability attorney who can help you navigate the application process quickly and thoroughly. This will give you your best chance at gaining the benefits you need and even getting out from under student loans. Contact us today for a free consultation to discuss your case. You may also reach us by phone at (918) 587-0050.