Q: I need to know about a student loan I have, what do I do if I become disabled and can no longer work, and therefore cannot pay back the student loan?
A: Every disability situation is different, so it’s difficult to give an encompassing answer as to what happens to a borrowers student loans if/when they become disabled. Likely the decision regarding if, or if not student loan repayment will be required, will depend on how severe an individuals disability is and/or what type of student loans the individual has (private student loans or federal student loans).
There are hardship student loan forgiveness programs available for health and very low income situations. For most hardship student loan forgiveness programs, the borrower will be required to pay some sort of low monthly “good faith” payment (of a determined amount) until they become approved with the department of education for their student loan forgiveness. Though student loan discharge through bankruptcy is extremely difficult, depending on how severe the individuals disability is, they may have a case for this. The best advice for borrowers in this situation is to start by contacting their student loan lenders to be advised on what steps to take for their specific situation.
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