Loan Lingo – Discharge
Channel: The Financial Literacy Course
Date: 2021-01-14

A discharged debt is debt that has been forgiven. This can happen for a variety of reasons, including those offered by debt forgiveness programs. Maybe you died or became permanently disabled before you were able to finish paying off the loan, or maybe your school closed down shortly after you graduated. In these tragic cases, your loan may be discharged, freeing you from the financial obligation.