Guest Posted January 10, 2016 Share Posted January 10, 2016 24 minutes ago, foreveryoung said: Question: Is this for the Veteran only or will it help Dependents under Chapter 35? Foreveryoung, dependents can not use the federal student loan discharge unless they are a 100% service connected veteran but CH35 should cover all of their student loans. Link to comment Share on other sites More sharing options...
Content Curator/HadIt.com Elder Vync Posted January 11, 2016 Content Curator/HadIt.com Elder Share Posted January 11, 2016 15 hours ago, foreveryoung said: Question: Is this for the Veteran only or will it help Dependents under Chapter 35? I tried to use this for my wife's student loans after I won 100% P&T. They told me that I could only if my name was also on the student loans. Be sure to call and ask. If they say otherwise, let me and everyone else know! Does anyone know if the IRS considers a student loan discharge as taxable income? rwskitch 1 Link to comment Share on other sites More sharing options...
labrat Posted January 12, 2016 Share Posted January 12, 2016 Yes Vync, according to the disability loan discharge paperwork I got from Nelnet, the IRS does consider student loan discharge as taxable income. I just applied for the student loan discharge due to TDIU, p and t. Vync 1 Link to comment Share on other sites More sharing options...
Navy04 Posted January 12, 2016 Share Posted January 12, 2016 Congrats on the Great News bud, and I too went thru this last year, and boy does it help in the end. God Bless ArNG11 1 Link to comment Share on other sites More sharing options...
Content Curator/HadIt.com Elder Vync Posted January 12, 2016 Content Curator/HadIt.com Elder Share Posted January 12, 2016 17 hours ago, labrat said: Yes Vync, according to the disability loan discharge paperwork I got from Nelnet, the IRS does consider student loan discharge as taxable income. I just applied for the student loan discharge due to TDIU, p and t. Well, I guess it is still a lot cheaper than paying back the entire balance. ArNG11 1 Link to comment Share on other sites More sharing options...
foreveryoung Posted January 12, 2016 Share Posted January 12, 2016 Pete992 I co-signed a large Student Choice Education Line of Credit Loan with my daughter for her 4 year degree. When she graduated, I had to refinance it to manage the payments to start paying it off. Chapter 35 helped out a lot, but not the full amount. Unless I'm missing something. She is still paying Federal Direct Stafford Loans and Federal Work Study loans the school allied her for. Link to comment Share on other sites More sharing options...
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