Student Loan Forgiveness: Are You Eligible?
The Biden Administration announced $39 billion in automatic loan forgiveness to 804,000
This wave of student loan forgiveness is separate from the forgiveness plan outlined in August 2022
Borrowers on repayment plans with federal direct loans or federal family education loans are eligible for forgiveness after 20 or 25 years of qualifying payments.
On Friday, July 14, eligible borrowers were informed by the Department of Education. Borrowers do not need to take any action in response.
If you’re notified that you’re eligible for forgiveness, loan repayment will be paused until the discharge is processed
The future of student loan forgiveness is currently uncertain as the Supreme Court has blocked the Biden administration's plans for widespread student debt relief.
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