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Here’s Who Qualifies For Student Loan Forgiveness Right Now
President Joe Biden (Photo by Ethan Miller/Getty Images) Getty Images Here’s who qualifies for student loan forgiveness right now. Here’s what you need to know. Student Loans With a string of recent announcements on student loan cancellation, it’s hard to keep track of who qualifies for student loan forgiveness. President Joe Biden has cancelled $11.5 billion of student loans since becoming president in January. This includes a major announcement on public student loan forgiveness. To avoid any confusion, let’s set the record straight. You may qualify for student loan forgiveness right now. Student loan forgiveness: borrower defense to repayment Biden
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Excitement Builds as Dept. of Education Sends Student Loan Forgiveness Emails
gradyreese / Getty Images A Twitter post late last week from U.S. Secretary of Education Miguel Cardona has raised the hopes of thousands of teachers, nurses and other public servants that their federal student loan debts could be erased months or even years earlier than expected. See: 5 Financial Moves To Make After Your Student Loan Is ForgivenFind: Student Loan Forgiveness: Department of Education’s ‘Transformational’ Changes Improve 99% Rejection Rate In the tweet, posted on Oct. 15, Cardona said: “Want some good news on this Friday night? Our first batch of PSLF emails regarding loan forgiveness have all
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9.8 million student loan borrowers will have servicer switched by 2022
On Friday, the Department of Education’s Federal Student Aid office announced a stricter set of standards for student loan servicers, the companies the government pays to oversee the billing and collection of student loan payments. “FSA is raising the bar for the level of service student loan borrowers will receive,” said FSA Chief Operating Officer Richard Cordray in a statement. “Our actions come at a critical time as we help borrowers prepare for loan payments to resume early next year. The great work done by our negotiating team here enables us to ensure that loan servicers meet the tougher standards
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Education Department intensifies scrutiny of student loan servicers
The Education Department’s (ED) office of Federal Student Aid (FSA), which oversees the government’s massive student loan portfolio, is launching stronger standards for student loan servicers in an effort to tighten oversight. “FSA is raising the bar for the level of service student loan borrowers will receive,” FSA Chief Operating Officer Richard Cordray said in a statement. As payments are set to resume on January 31, 2022, the agency’s moves — which follow on the back of recent news of a new Office of Enforcement that it’s setting up — “come at a critical time,” added Cordray, and “enables
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California woman sees nearly $350,000 discharged in personal bankruptcy while serving as her own lawyer
A California woman with more than $350,000 in student debt served as her own lawyer in personal bankruptcy and saw 98% of her loans discharged in the latest case in a growing trend. Court filings show that the Education Department (ED) and the Los Angeles-based woman, Mis Loe, agreed on August 30 that Loe would pay $7,200 of her $356,637.82 in outstanding loans (at a fixed monthly rate of $60 for 10 years or until October 1, 2031). Once Loe completes the $7,200 payment by October 2031, according to the agreement, she “shall be discharged of the remaining balance of
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