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.
ED will use the VA disability data to contact those borrowers who have Title IV Loan debt or service obligations under the Teacher Education Assistance for Higher Education (TEACH) Grant Program and inform those borrowers of ED’s total and permanent disability (TPD) discharge process for individuals who have a Title IV Loan debt or TEACH Grant service obligation.
More specifically, names, date of birth, and Social Security numbers of Title IV Loan borrowers will be submitted by ED to SSA, which will then return information on matched borrowers who have received a disability designation of Medical Improvement Not Expected (MINE) under the Social Security Act (Act), Title II Federal Old-Age, Survivors and Disability Insurance Benefits (42 U.S.C. §§ 401-434) and Title XVI Supplemental Income for the Aged, Blind and Disabled (42 U.S.C. §§ 1381-1383f).
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.
Under ED contracts as of September 2023, Title IV Loan servicers receive $3.09 a month for a borrower in repayment and current, even if that borrower is making a $0 payment under an IDR plan.
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 TPD discharge application.
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.
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 will use the VA disability data to contact those Borrowers (as defined herein) who have Title IV Loans (as defined herein) or who have debt or service obligations under the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program and inform those Borrowers of ED’s total and permanent disability (TPD) discharge process for individuals who have a Title IV Loan debt or TEACH Grant service obligation.