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A proposal to cancel Parent PLUS loan debt in cases where the student beneficiary suffers a total and permanent disability.AI-written
Parents would no longer be responsible for federal student loans if the child they borrowed for becomes permanently disabled.
Currently, a tragedy that leaves a student disabled can create a massive financial loophole: while the student's personal loans might be forgiven, the parent's loans for that same student often remain. This can leave parents, who are often approaching retirement age, with tens of thousands of dollars in debt for a child who may now require expensive long-term care and cannot contribute to the household income. This bill seeks to provide financial relief to families facing these specific hardships.
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A proposal to cancel Parent PLUS loan debt in cases where the student beneficiary suffers a total and permanent disability.AI-written
Parents would no longer be responsible for federal student loans if the child they borrowed for becomes permanently disabled.
Currently, a tragedy that leaves a student disabled can create a massive financial loophole: while the student's personal loans might be forgiven, the parent's loans for that same student often remain. This can leave parents, who are often approaching retirement age, with tens of thousands of dollars in debt for a child who may now require expensive long-term care and cannot contribute to the household income. This bill seeks to provide financial relief to families facing these specific hardships.