How to Discharge Your Student Loan Debt

Student loan debt has reached $1.3 trillion, Forbes reports. It’s second on the list of huge consumer debts, second only to mortgage debts and followed by credit card debts and auto loans.

With more than 44 million borrowers, student loan debt has become a major crisis. If you find yourself in the same boat and you’re looking for a way to discharge your debt, here are a few things you’ll need to know:


Your debt can be discharged if you have a permanent disability or if the school closed down during the time of your study. In addition, if the loan qualifications were falsified by the school, your debt might be forgiven. You will get the same result if the school failed to refund any required loans to you as well.

Forgiveness programs

If the above conditions don’t apply to you, then you might want to look into debt forgiveness program options. You could work in public service and make payments through your income. There are income-based payment options you could explore and review. Make sure you weigh the pros and cons of each one so you’ll know which conditions, requirements and limitations work best for your situation.


You aren’t going to be the only one applying for these loans, though. That makes it exceptionally important to make sure you ace the application process. Missing a deadline or sending a form that’s been incorrectly filed out can effectively remove you from the roster of applicants before they even have a chance to review your case. Don’t let that happen. Look for a service that offers loan documentation process assistance. That way, you won’t have to worry about getting through the application process on your own. With pros to help you prepare for the debt forgiveness program requirements, you have a better chance of getting your application approved.