I received a letter in the mail today from Discover stating that because they are exiting the student loan business, they are reducing the loan balances due down to $0! ZERO! Writing it off as paid in full and updating consumer reporting. I about had a stroke reading that! From $43,283 owed to $0 😭

Edit: Per the letter, and I quote “ As part of Discover exiting the student loan business, we are writing to inform you that we reduced the balance on your student loans listed below to $0. This applies only to the student loans listed below and does not apply to any other debt you may owe discover. We will send an update to the consumer reporting agencies to show the loan account status as account paid in full. Please allow the consumer reporting agencies time to reflect the update.”

I will be receiving a 1099-C

Edit: 1099-C means the debt is being cancelled. Will not exist. Done. Zero. Nada.