I can’t let today pass without saying thank you to those who have offered service, and call for peace on all levels. Our lives are beautiful and unpredictable, and we all have been touched by someone who has selflessly put himself or herself on the line to protect others. The best way we can honor them is by practicing peace.
Many of our veterans come back after their tours of duty to find a mountain of debt at home. Although the post-9/11 GI Bill was passed in 2008, approximately 40% of active duty service members have student loan debt. Some service members are lured into using risky debt repayment plans, and often continue to pile new debt on top of it.
It isn’t easy to climb out of debt. But there is always hope.
I wanted to share this 2013 story about a veteran who was able to have some of his debt forgiven by a debt buyer. A debt buyer is an entity that purchases delinquent debt for a fraction of the amount, then begins collection proceedings from the person who incurred the debt.
The Office of the Department of Education offers a benefit to 100% disabled veterans who have student debt. Under federal law, veterans can ask for student loan forgiveness if they are rated 100% disabled by the Department of Veterans Affairs. But it may affect credit ratings, as explained here. Government personnel, Peace Corps members and Americorps members might have options for student loan repayment, as Collegeview.com mentions here.
If you are pursuing debt reduction and financial freedom, and you have allocated a percentage of your money to the “give” envelope, here are some opportunities to help veterans in their journey:
(Disclaimer – I am not affiliated with or linked to any of these programs)