Seattle,"17. Loan Discharge – My loans will be dischargedif documentation of my death is submitted to mylender. My loan(s) may also be discharged if a physiciancertifies that I am totally and permanently disabled....My loan will not automatically be discharged inbankruptcy. In order to discharge a loan in bankruptcy,I must prove undue hardship in an adversaryproceeding before the bankruptcy court.In certain cases, the Act provides for loan dischargefor borrowers who are unable to complete a courseof study because the institution closes, or borrowerswhose loan eligibility was falsely certified by theinstitution. The Act also provides for loan dischargein the amount of any required refund that my schoolfailed to make to my lender on my behalf."The quote above comes from the standard Master Promissory Note that Sallie Mae has students fill out for government-backed loans. Don't know about the language in PLUS loans.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. M