There are different types of student loan discharge.
And there are some things you should know.
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What does it mean to have a student loan discharged?
If you have a student loan discharged, it means you are no longer obligated to pay back the loan. The discharge is also reported to credit bureaus. There, they will see any adverse credit history associated with the loan. Find additional information here.
What happens if my student loan discharge application is approved?
If you qualify for discharge from the full amount of your loan, you will no longer be required to make loan payments.
If you only qualify for partial discharge, will be responsible for repaying the balance that is left.
Student loan payments aren’t reflected in credit score. But, their overall “financial picture” improves as your debt-to-income ratio will improve.
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