[Students] Rumor Has It Series: Financial Aid Borrowers: Student loans & Retirement
A&M-Commerce Students
students at tamuc.edu
Thu Mar 30 14:46:45 CDT 2017
This is an interesting one.
"They", whoever they are said
"When I retire, I don't have to pay back any of my student loans that I may still owe. They are forgiven because I am retired"
Wrong!
Retirement doesn't clear one's student loan debt.
Actually if the loans go into default the federal government can and will garnish retirement money; social security payments.
There are only two ways that one's student loans are wiped clean.
1. The student borrower dies OR
2. The student borrower becomes permanently disabled.
Neither one of these are good recommended options to take in order get the loans cleared.
For information on forgiveness options; please visit StudentLoans.gov<https://studentloans.gov/myDirectLoan/index.action>.
While you are there check on your financial aid history to see how much you have borrowed in the past, repayment plans, etc.
A friendly reminder from the Office of Financial Aid & Scholarships
Maria del C. Perez-Ramos, Director
Financial Aid and Scholarships
Maria.ramos at tamuc.edu<mailto:Maria.ramos at tamuc.edu>
Mail: P.O. Box 3011 | Commerce, TX 75429
Ship: 2600 South Neal Street | Commerce, TX 75428
Tel: 903.886.5091<tel:903.886.5091> | Fax: 903.886.5098<tel:903.886.5098> | www.tamuc.edu<http://www.tamuc.edu> <http://www.tamuc.edu/>
http://www.tamuc.edu/financialaid
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