Attorney General Phil Weiser calls on Education Department to automatically discharge student loans for totally or permanently disabled veterans

May 24, 2019 (Denver, Colo.) –Attorney General Phil Weiser has joined a coalition of 51 Attorneys General urging the U.S. Department of Education (DOE) to develop a process to automatically forgive the student loans of veterans who are totally and permanently disabled as a result of their military service. The bipartisan coalition issued its letter to Education Secretary Betsy DeVos as the country prepares to honor, support, and celebrate veterans on Memorial Day.

“These brave men and women have served our country with bravery and dignity and they deserve better. As Attorney General, I am committed to supporting our veterans and developing innovative financial solutions to relieve student debt for those who have sacrificed for our nation and safety,” said Attorney General Weiser.

The Consumer Credit Unit in the Colorado Department of Law regulates companies and individuals involved in consumer lending, debt collection, and debt management and enforces a variety of statutes governing those and related practices.

There are roughly 400,000 veterans in Colorado. Nationwide, the Education Department has identified more than 42,000 veterans who would be eligible for student loan relief due to a service-related total or permanent disability.

While the federal government has taken some steps to make it easier for eligible veterans to secure student loan relief, an automatic discharge process that gives individual veterans an opportunity to opt out for personal reasons “would eliminate unnecessary paperwork burdens and ensure that all eligible disabled veterans can receive a discharge.”

The proposal for automatic discharges with opt out rights enjoys bipartisan support in Congress and among state Attorneys General, thus earning its adoption as formal policy by the National Association of Attorneys General. This designation is reserved for letters and comments supported by at least 36 Attorneys General.

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