“veterans And Student Loans: Navigating Education Benefits And Support” – WASHINGTON – President Donald Trump on Wednesday announced a new plan to eliminate student loan debt for disabled veterans.
“The debt for disabled veterans will be completely erased,” Trump said in a speech at the 75th annual American Veterans Convention in Louisville, Kentucky. “In a few moments, I will sign a memorandum calling on the Department of Education to eliminate every penny of federal student loan debt owed by American veterans who are totally and permanently disabled.”
“veterans And Student Loans: Navigating Education Benefits And Support”
At the end of his remarks, Trump stopped on stage to sign the executive order before the crowd of several hundred veterans gathered for the convention at the Galt House Hotel.
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“The debt for these disabled veterans is going to be completely erased. It’s going to go away,” Trump said. “Sleep well last night.”
Trump, who was accompanied on his trip by Education Secretary Betsy DeVos, among others, said his proposal would eliminate an average of $30,000 for each of the more than 25,000 eligible veterans “who have made tremendous sacrifices, the ultimate sacrifice. on many way for our nation.”
“That’s hundreds of millions of dollars in student debt held by our severely wounded warriors. It’s gone forever,” he said.
Trump opened the beginning of his speech by joking that he had considered giving himself a Medal of Honor, the highest recognition that can be awarded to those who have served in the military.
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“I wanted one, but they told me I didn’t qualify,” Trump, who received several deferments during the Vietnam War, told the gathering of veterans. “I said ‘can I give it to myself anyway?’ They said, ‘I don’t think it’s a good idea’.”
Trump was later expected to lead a fundraiser in Louisville for Republican Gov. Matt Bevin’s re-election campaign before returning to Washington. There are several resources available to you to help pay your college expenses. Many are listed below.
One of the first things you’ll want to do is apply for your VA education benefit. The VA certifying officers are located in the Veterans and Military Services Office. They are a resource to guide you through the complex process of receiving your benefits – from answering questions about the various education benefits, the application and certification process, and advocating on your behalf with the VA.
As a veteran, you may also qualify for additional resources through one of the state waiver programs. If eligible, these state exemptions can supplement your VA education benefit by applying the portion of tuition not covered by VA. Even if you have exhausted your VA benefits, you may still qualify for a state tuition waiver of up to 50%.
Action Steps To Financial Aid
If you are active military, reservist, or a member of the National Guard, you may be eligible for tuition assistance. For further information, contact the education office.
In addition to using your VA education benefits, you’ll also want to apply for financial aid through the Free Application for Federal Student Aid (FAFSA). The FAFSA will determine your eligibility for all federal, state and institutional funding. More information about completing the FAFSA, the Husky Promise program, student loans, and important deadlines can be found on the Office of Student Financial Aid website.
The Office of Student Fellowships & Awards provides strong support to students interested in applying for scholarships and fellowships with specific opportunities, such as the Tillman Scholarship for active duty service members, veterans and their families.
The Office of Merit Scholarships, Fellowships & Awards at the University of Washington Seattle has also produced a list of military veterans and their families scholarships.
Expert Advice On Student Loan Repayment Options
If you are in a situation where there is a time lag between your VA benefits being applied and/or your financial aid pending, you can go online to your UW account and apply for a Short Term Emergency Loan (STL) under the Personal Services tab. Information about STL is available at the Office of Student Financial Aid .
If you are studying full-time or 3/4 in a degree program, you can “earn while you learn” with VA work-study benefits. Additional information about VA Work-Study is available on the VA website. The Department of Education and Veterans Affairs (VA) have joined forces to notify veterans with severe disabilities that they may be eligible to have their federal student loans paid off tax-free.
For years, the Presidium has highlighted the possibility of receiving a disability discharge. So we’re excited to share with you the details of how the Department of Education will reach out to veterans who may be able to apply for tax-free payoff of their student loans.
In April, the Department of Education began matching their list of student loan borrowers with the VA’s list of veterans who are unemployed due to service-connected disabilities. From that process, the Department of Education created a list of federal student loan borrowers or Teacher Education Assistance for College and Higher Education (TEACH) recipients who may qualify for the Total and Permanent Disability (TPD) discharge.
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Already, the Department of Education and VA have identified over 42,000 veterans with severe disabilities who have a total of more than $1 billion in outstanding student loans who may be eligible for TPD discharge. Over 11,000 of these veterans were in bankruptcy with $168 million in outstanding loans.
The Department of Education and Nelnet, the service provider that administers the TPD discharge process, will mail letters similar to this sample letter to individuals whose records indicate possible discharge eligibility.
The Department of Education and Nelnet maintain a website to provide resources and more information on how to start your application for discharge online. Although disabilitydischarge.com is a “.com” site, it is the site that Nelnet uses to communicate with borrowers on behalf of the Department of Education.
You or your representative should only use this service administered by Nelnet during the loan closing process. This is a free service and you do not have to pay any fees for the application. Ignore any services that claim they can help with your discharge for a fee, as they are likely scams.
What To Do If Loan Forgiveness Goes Away
The easiest and fastest way to start the process is to apply online. The application will ask a few simple questions, such as contact information and social security number. The good news is that if you received the letter, you do not need to submit documentation of your service-connected disability because the Department of Education has already received this information from the VA.
You can also start the application process by contacting the Department of Education via email or by calling 1-888-303-7818 during regular business hours. They will give you the information you need to submit an application.
Once the Department of Education receives your application, they will instruct the loan officer to suspend collection activity on your current student loans for 120 days while your application is reviewed to determine your eligibility for discharge. As part of the waiver, your loan servicer must repay any loan payments made after the VA’s determination of your service-related disability becomes effective. If you have any questions about TPD or the process, please contact your student loan servicer.
The Department of Education will work with the VA to conduct a new match of severely disabled veterans with the student loan database to identify more borrowers who may be eligible. Borrower notifications will be sent incrementally each quarter.
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If you or someone you know may be eligible for a disability discharge and have not received a notification, you can find more information or start a TPD discharge application at www.disabililtydischarge.com.
Are you a service member or veteran with credit card, car loan or debt collection questions? The Bureau of Consumer Financial Protection provides assistance to service members, veterans and military families at every stage of a military career and beyond. See our guides to navigating financial challenges. If you have a military background and want to further your education, you may be able to take advantage of the Post-9/11 GI Bill, which offers educational assistance to pay for college. You must have served after September 10, 2001 to receive financial assistance through the Post-9/11 GI Bill. Types of aid available include flexible payment plans, reduced tuition, grants, student loans and veterans scholarships.
According to the Congressional Budget Office, as of 2016, 82 percent of spending under the Post-9/11 GI Bill was for veterans, while about 8 percent was for spouses and children of veterans. Active duty members also used 10 percent of the funds available under the bill. In 2016, 96 percent of the money spent on college education for service members went to tuition, housing and fees.
If you are thinking about going to college and are an active duty service member or a veteran, review your financial aid options for attending a public or private college or university. You must show your discharge status and, in some cases, the number of years you served. Before you apply to any of these programs, make sure to get one
Managing Student Loans
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