November 12, 2009
Parent Plus Loan Forgiveness Conditions
If you have taken out a PLUS Loan to help pay for your child’s education, all or part of it may be cancelled (forgiven) for several reasons. You may qualify for total or partial loan forgiveness if:
- The school closed within 90 days of your child’s enrollment and they were unable to finish their program of study.
- The school did not properly qualify your child’s status before they began studies.
- You did not receive a refund that was due to you.
- Your signature was forged.
- The school did not properly evaluate your child’s ability to benefit from the coursework before beginning studies.
- You become totally and permanently disabled.
- If you or the dependent for whom the loan was borrowed, dies
- Your loan is discharged due to bankruptcy. (Typically, student loans cannot be discharged in a bankruptcy.) Consult your legal counsel regarding your particular situation.