There is a new law that should help ease some of the financial burdens for Cancer patients. When I first learned about this law I was surprised that this kind of help was not already established, but I am glad to hear some changes were made. This law, Deferment for Active Cancer Treatment Act, H.R. 2976 became effective in September of 2018.
The updated law now allows those diagnosed with cancer to defer their student loan payments. During the deferment, no interest will be accrued. The deferment can extend up to 6 months after the person has completed their treatment. Anyone interested in the deferment process should contact their lender. Since the law is so new there might be some confusion when trying to apply, the department of education is also still in the process of fully understanding how the law will work. Below you will find the links to the new law and possible resources if you have any trouble getting started.
There is also another option for cancer patients or anyone who becomes permanently disabled due to a medical illness. If you have documentation of your disability from the VA or Social Security you can present that documentation to your lender to have your student loans “discharged” or forgiven. For additional details click on the link below.