Yesterday I began my journey to have my student loans forgiven. My medical condition has gotten worse and I have received a 100% Total and Permanent Disability rating from the Department of Veteran Affairs.
The good:
I won't enter into the 3 year waiting period.
Hopefully, it gets approved faster since the documentation sent clearly explains my conditions and my disability rating. I hope this helps expedite things.
I did not have to fill out the medical part 4 on the request form.
Now I want to document as accurately as possible the entire process so others may have an idea of time frames and steps.
03/27/2017
Sent completed form and supporting documentation via overnight mail and waived signature.
03/28/2017
The package was delivered at 10:23 am. At 6:37 Pm no update on the site.
03/29/2017
File was scanned and uploaded to the system. Was informed of this because I called to see if they had received it. At the time the kind lady informed me that since it was scanned it was waiting on a reviewer to uploaded it and assign a case number to it.
04/05/2017
Logged in and my case had been assigned a number and all the student loans were present. In the file. Including a recent one from a month ago. I'm still going to school. Not sure how that will affect the case but I was rated at 100% less than a month ago.
05/04/2017
Logged in today and finally saw a status change. I was getting a little anxious but this gives me a little more hope. The new status is Pending Final Approval.
I've read in some places from this point on it can take anywhere from 3-10 weeks to get the approval. After the approval, I will continue to document the steps to see what happens to the credit score and how they report it.
May 5th Update.
Now I called on the 1st of May and managed to get someone to explain how the process works. The young lady mentioned that They review my file and do a "soft approval" and send it to the Department of Education to get the final approval. Once they receive the final approval it gets send to Navient. Navient will then send me the correspondence explaining that they have been discharged and send the loan holders the information so they can update the records and credit reports.
05/13/2017
Called to see the status and was informed that my paperwork still hadn't been sent to the DE. When I asked if I needed to send something else they informed me that they send them in batches.
05/18/2017
My discharge was approved. On the website it says permanent Discharge. If you call they can send you the letter via email.
5/24/2017
I decided to check Fedloan website to see what the status of the loans was. The loans all appear Paid in Full. I have to admit that when I saw this i felt like a huge rock was lifted off my shoulders. I'm officially debt free and waiting to close on our new house.
All that is left is for them to report it to the all 3 CBs.
06/05/2017
All my student loans are off all 3 CBs.
One step closer.
Current Score: Eq: 823 Tu: 830