Student loan forgiveness: Important tips to get your payments lowered or debt wiped out
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Published 2024-04-05
Mayotte explains the "one-time account adjustment", which would give borrowers an opportunity to consolidate their current loans "to get the most benefits they can." This option, which has a deadline of April 30th, has a loan forgiveness benefit. She explains that for every period an individual has been under repayment, borrowers will receive credit towards the "forgiveness component" that exists under Income-Driven Repayment (IDR) or SAVE plans.
Despite the uncertainty surrounding the potential legislative changes, Mayotte believes individuals who qualify for relief will not be affected even if Biden's proposal is ultimately struck down. She emphasizes that the process is already "half way to the finish line," encouraging borrowers to take advantage of the available options while they can.
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All Comments (3)
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Bank or home
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How about paying your own debts. No one signed the contract other than yourself. Don't be a deadbeat. How about being a responsible, productive member of society instead of relying on the government and other taxpayers to bail you out.
