Title IV Loan definition
Examples of Title IV Loan in a sentence
Sharing information on MINE status for Title IV Loan borrowers would streamline the process for determining eligibility for this loan discharge, and for identifying and contacting borrowers who are eligible for the discharge, but have not applied to receive it.
Under ED contracts, Title IV Loan servicers receive $3.09 a month for a borrower who is in repayment and current, even if that borrower is making a $0 payment under an IDR plan.
ED will request SSA verification only for those borrowers who have an outstanding Title IV Loan identified in the NSLDS.
ED anticipates that the matching program under this Agreement will reduce the time and administrative resources needed to review, and approve applications for a TPD Title IV Loan discharge.
ED will use the information obtained from VA only for purposes set forth in this CMA, which is to contact borrowers of Title IV loans that match with the VA per this Agreement who show that they owe a balance on a Title IV Loan, to inform those borrowers of ED’s TPD process and use the information obtained from VA as documentation that the borrower qualifies for a TPD discharge.
More specifically, names, dates of birth, and Social Security numbers of Title IV Loan borrowers, will be submitted by ED to DoD, which will then return information on borrowers who were deployed to an eligible imminent danger pay area.
Sharing information on MINE status for Title IV Loan borrowers streamlines the process for determining eligibility for this loan discharge, for identifying and contacting borrowers who are eligible for the discharge but have not applied to receive it, and for granting TPD discharges to eligible borrowers.
ED cannot discharge a Title IV Loan, which may have tax consequences for the borrower, until/unless the borrower officially requests the discharge by completing a TPDdischarge application.
ED will request SSA verification only for those borrowers who have an outstanding Title IV Loan as identified in the NSLDS.
ED anticipates that the matching program under this Agreement will reduce the time and administrative resources needed to review and approve applications for a TPD Title IV Loan discharge.