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The Biden administration is kicking off another student loan forgiveness process. Goons who are eligible can get up to $20k in goonbucks. Cancelling Runaway Interest: quote:More than 25 million borrowers owe more than they originally borrowed, including many who have made years of payments, due to the interest rates on Federal student loans. President Biden will announce plans that, if finalized as proposed, would cancel up to $20,000 of the amount a borrower’s balance has grown due to unpaid interest on their loans after entering repayment, regardless of their income. Low and middle-income borrowers enrolled in the SAVE plan or any other income-driven repayment (IDR) plan would be eligible for the entire amount their balance has grown since entering repayment to be canceled under the Administration’s plans. This group of borrowers includes single borrowers who earn $120,000 or less and married borrowers who earn $240,000 or less. No application will be needed for borrowers to receive this relief if the plan is implemented as proposed. Automatically canceling debt for borrowers eligible for loan forgiveness under SAVE, PSLF, closed school discharge, or other forgiveness programs but not enrolled quote:Today, the Administration is proposing to automatically cancel debt for borrowers otherwise eligible for relief through the SAVE plan, Public Service Loan Forgiveness, or other forgiveness opportunities like closed school loan discharges but who have not successfully applied for that assistance. Canceling student debt for borrowers who enrolled in low-financial-value programs quote:Today, President Biden is announcing his Administration’s plans that, if finalized as proposed, would cancel student debt for loans associated with institutions or programs that lost their eligibility to participate in the Federal student aid program or were denied recertification because they cheated or took advantage of students. Further, borrowers who attended institutions or programs that closed and failed to provide sufficient value— for example that leave graduates with unaffordable loan payments or earnings no better than what someone with a high school diploma earns— would be eligible for relief under this proposal. Canceling student debt for borrowers who entered repayment over 20 years ago quote:The Administration’s new proposals, if finalized as proposed, would cancel student debt for borrowers who first entered repayment 20 or more years ago. Borrowers with only undergraduate debt would qualify for forgiveness if they first entered repayment 20 years ago (on or before July 1, 2005), and borrowers with any graduate school debt would qualify if they first entered repayment 25 or more years ago (on or before July 1, 2000). Both Direct Loans and Direct Consolidation Loans that repay only undergraduate study or graduate study for 20 or 25 years respectively are eligible for relief in this proposal. Borrowers would not need to be on an income-driven repayment plan to qualify. Canceling student debt for borrowers experiencing hardship paying back their loans quote:The Administration’s plan for student debt relief will also include a plan that would cancel student debt for borrowers experiencing hardship in their daily lives that prevents them from fully paying back their loans now or in the future.  Important Reason to Get in Early (if possible) Even in a worst case scenario Supreme Court ruling, the court won't be able to compel them to reclaim disbursed funds, even if they decide to rule against it as hard as possible, but they can prevent it from happening again. That makes it important to get in as early as possible just in case the Supreme Court decides to shut it down and go as far as possible with the ruling. You can check the announcement page here for all of the details: https://www.whitehouse.gov/briefing...administration/ Other Important Information: - If you have made any recent payments, you can request a full refund for them. Just call your loan servicer. They are legally required to work with you. Frequently Asked Questions: - Is this about the election? Yes ---- https://twitter.com/POTUS/status/1777494136670577026 Woke Mind Virus has issued a correction as of 22:01 on Apr 9, 2024 |
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Apr 9, 2024 16:01
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| # ¿ May 17, 2024 16:42 |
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reserved
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Apr 9, 2024 16:01
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updated the FAQ. lots of push back here but if one single goon gets their goon bucks then it's a success imo.
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Apr 9, 2024 19:58
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i know we all like twitter embeds so here's the announcement edit: sorry wrong one https://twitter.com/POTUS/status/1777494136670577026 Woke Mind Virus has issued a correction as of 22:01 on Apr 9, 2024 |
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Apr 9, 2024 21:59
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RoboBoogie posted:my wife has 3 months left on her pslf then she can apply. this thread is about Joe Biden's student loan forgiveness. not George W. Bush's.
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Apr 10, 2024 19:02
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