Whats the Current State of Student Loan Forgiveness?

Whats the Current State of Student Loan Forgiveness?

While campaigning for President, Joe Biden promised $10,000 in student loan forgiveness per borrower, so naturally borrowers want to know what’s the latest news on President Biden’s student loan forgiveness plan. Here’s a roundup of recent developments and what might happen next.

Latest Student Loan Forgiveness Updates

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On , Joe Biden announced his third extension of the federal student loan payment pause and interest waiver. Federal student loans will remain interest-free until . There was no reference in the announcement about a loan forgiveness or cancellation program that the Biden administration might be pursuing but President Biden asked borrowers to do their part to prepare for repayment.

This extension came as a bit of a surprise after the Administration expressed that its August announcement would be the final extension of the student loan interest waiver that was instituted in as part of the CARES Act. When asked by reporters about the potential for President Biden to extend the payment pause again or enact further student loan forgiveness just the day prior, White House Press Secretary Jen Psaki said that the President had not made a decision yet.

As the Biden Administration continues to pursue its agenda with narrow majorities in Congress, it has taken a piecemeal approach to student debt relief while it explores its legal authority to pursue wider loan forgiveness programs without congressional support.

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Most recently, an overhaul of the Public Service Loan Forgiveness program was announced to restore the promise of PSLF, according to the Education Department factsheet. Fortsett å lese «Whats the Current State of Student Loan Forgiveness?»

Nevertheless the number was settled ahead of following

Nevertheless the number was settled ahead of following

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