Stafford Loan

[HolliGreen]

Hello, I will preface my post with an apology lest I unintentionally %*#@ anyone off. :)

First, I am thankful and grateful for the compensation and benefits the VA has seen fit to award me for my schedular 100% service-connected, T&P diseases of multiple sclerosis and asthma.

At this point in my life I would very much like to earn my Masters degree at my B.A. alma mater. I do not learn as well in an online environment, interaction with fellow classmates works best.

It appears I fit in no category for VA help with financing my Masters; I have spoken to the Voc Rehab rep and he told me I am not eligible. Independent Living? grab bars are already installed in my tub.

The bulk of my time has been spent searching for grants, scholarships, etc.

The Stafford loan appears to be my best and only option.

BTW-I am a peace-time era vet with two sets of active duty: 1st:Sept. 80-Sept. 84. Honorable Discharge. 2nd: Feb. 85 - Nov. 87- Honorable medical discharge for asthma.

The first symptom of MS appeared during the second enlistment while stationed in South Korea.

Any thoughts, information, suggestions will be so very, very much appreciated.

Also, I do not want to come off sounding like a spoiled brat because I know both personally and from Hadit, there are folks worse off than myself. Have a good day. Holli

[free_spirit_etc]

Holli,

What degree are you seeking? Many colleges have their own financial aid packages for Grad students. When I got my Master's in Communication - I had a grad assistanship - where I taught two under grad classes while going to grad school. I got free tuition and fees - and got paid for 20 hours a week employment. My husband got his degree in Sociology. He got a grad assistantship in which spent 10 hours a week "office hours" to help any undergrads that came by for assistance, or do some research for faculty members. He got free tuition and fees and was paid for 10 hours a week.

With these types of porgrams - you would talk to the department, not the financial aid office. Most departments have these types of programs to draw grad students to their programs.

A 10 hour a week position wouldn't pay much - but should also not be considered "employment" for SSD. It is considered more financial aid.

One thing to watch with a student loan is they DO have a forgiveness clause for student loans - based on total and permanent disability. But IF you take a loan out when you are already disabled - the forgiveness clause doesn't count - UNLESS your condition deteriorates.

To get the loan forgiven - you need a doctor's statement that you are not able to do ANY gainful employment. After that - you are given a conditional discharge (you don't have to pay but the loan is not forgiven) for 3 years. During this time (once you are in the condtional discharge period) you CAN work - but will be off the program if you earn over the federal poverty wage for a family of two.

After 3 years of conditional discharge - the loan can actually be forgiven - wiped out.

If you already disabled when you take the loan out - it might be hard to use this forgiveness program if you need it later - though it does say you can use it if your condition deteriorates.

SO I would think you could build a case that when you took out the loan you were seeking training to do a job you COULD do with your disbility. And if your condition got worse - where you could not do that job - you could have a case for loan forgiveness.

free

Hello, I will preface my post with an apology lest I unintentionally %*#@ anyone off. :)

First, I am thankful and grateful for the compensation and benefits the VA has seen fit to award me for my schedular 100% service-connected, T&P diseases of multiple sclerosis and asthma.

At this point in my life I would very much like to earn my Masters degree at my B.A. alma mater. I do not learn as well in an online environment, interaction with fellow classmates works best.

It appears I fit in no category for VA help with financing my Masters; I have spoken to the Voc Rehab rep and he told me I am not eligible. Independent Living? grab bars are already installed in my tub.

The bulk of my time has been spent searching for grants, scholarships, etc.

The Stafford loan appears to be my best and only option.

BTW-I am a peace-time era vet with two sets of active duty: 1st:Sept. 80-Sept. 84. Honorable Discharge. 2nd: Feb. 85 - Nov. 87- Honorable medical discharge for asthma.

The first symptom of MS appeared during the second enlistment while stationed in South Korea.

Any thoughts, information, suggestions will be so very, very much appreciated.

Also, I do not want to come off sounding like a spoiled brat because I know both personally and from Hadit, there are folks worse off than myself. Have a good day. Holli

[HolliGreen]

Holli,

What degree are you seeking? Many colleges have their own financial aid packages for Grad students. When I got my Master's in Communication - I had a grad assistanship - where I taught two under grad classes while going to grad school. I got free tuition and fees - and got paid for 20 hours a week employment. My husband got his degree in Sociology. He got a grad assistantship in which spent 10 hours a week "office hours" to help any undergrads that came by for assistance, or do some research for faculty members. He got free tuition and fees and was paid for 10 hours a week.

With these types of porgrams - you would talk to the department, not the financial aid office. Most departments have these types of programs to draw grad students to their programs.

A 10 hour a week position wouldn't pay much - but should also not be considered "employment" for SSD. It is considered more financial aid.

One thing to watch with a student loan is they DO have a forgiveness clause for student loans - based on total and permanent disability. But IF you take a loan out when you are already disabled - the forgiveness clause doesn't count - UNLESS your condition deteriorates.

To get the loan forgiven - you need a doctor's statement that you are not able to do ANY gainful employment. After that - you are given a conditional discharge (you don't have to pay but the loan is not forgiven) for 3 years. During this time (once you are in the condtional discharge period) you CAN work - but will be off the program if you earn over the federal poverty wage for a family of two.

After 3 years of conditional discharge - the loan can actually be forgiven - wiped out.

If you already disabled when you take the loan out - it might be hard to use this forgiveness program if you need it later - though it does say you can use it if your condition deteriorates.

SO I would think you could build a case that when you took out the loan you were seeking training to do a job you COULD do with your disbility. And if your condition got worse - where you could not do that job - you could have a case for loan forgiveness.

free

Hello Free, many thanks for your informative post, I appreciate the time you took to explain the different options. I am seeking a M.A. in Psychology, my undergrad degree major is Social Science and a minor in Psych.

I retired from a federal civil service position a few years ago, applied for disability retirement which was approved and along with federal disability retirement, it is mandatory to apply for SSDI. As part of the FERS (Federal Employment Retirement System), the applicant must sign legal and binding documents to acknowledge awareness and the illegality of seeking other employment. If the retiree does not adhere to the terms of their retirement, $250,000.00 or a maximun of five years in federal prison will be imposed upon the offender.

The SSA says I can not make any money. My husband and I depend on this money. Also, as my dear husband reminds me (out of his concern) I am ill and must take care of myself lest I slip further down the slippery slope of unpredictable multiple sclerosis.

Again, I appreciate the time and effort you took with your post. Free Spirit, please accept my heartfelt thanks.

Holli

[JR Reihs]

HolliGreen,

I do not understand your post as I am a FERS retiree also.....I signed no document that said I woulld not seek other employment. I know that I could make up to 30k without a hassle from OPM, but the downside would be finding a job at this point and taking a chance with the VA and SS should things go wrong.

[free_spirit_etc]

As for the loan issue - then you might want to check that out - and know going into it whether or not your loan can be forgiven if your condition gets worse.

You can also check into grad programs that would give you the free tuition and fees with no work requirements.

Free

Hello Free, many thanks for your informative post, I appreciate the time you took to explain the different options. I am seeking a M.A. in Psychology, my undergrad degree major is Social Science and a minor in Psych.

I retired from a federal civil service position a few years ago, applied for disability retirement which was approved and along with federal disability retirement, it is mandatory to apply for SSDI. As part of the FERS (Federal Employment Retirement System), the applicant must sign legal and binding documents to acknowledge awareness and the illegality of seeking other employment. If the retiree does not adhere to the terms of their retirement, $250,000.00 or a maximun of five years in federal prison will be imposed upon the offender.

The SSA says I can not make any money. My husband and I depend on this money. Also, as my dear husband reminds me (out of his concern) I am ill and must take care of myself lest I slip further down the slippery slope of unpredictable multiple sclerosis.

Again, I appreciate the time and effort you took with your post. Free Spirit, please accept my heartfelt thanks.

Holli

[HolliGreen]

HolliGreen,

I do not understand your post as I am a FERS retiree also.....I signed no document that said I woulld not seek other employment. I know that I could make up to 30k without a hassle from OPM, but the downside would be finding a job at this point and taking a chance with the VA and SS should things go wrong.

Hi JR Reihs, I signed many documents, submitted many documents, requested many documents for and to OPM. Of particular note is your statement about the "downside"...exactly my point here, I can not and will not take a chance at jepordizing (sp?) my hard fought for VA and SS should anything go wrong. H.G.

[stevedenesha]

I'm also FERS disability retirement, SSDI and IU and was told that for FERS Disability Retirement that I could earn up to 80% of my previous income without penalty (similar to what Reihs said) but that would be disastrous for IU!

Steve