Below you'll find a list of all posts that have been categorized as “Student Loan Forgiveness”
Getting the full value of federal student loan forgiveness programs takes a bit of planning. Because there is no limit to the amount that can be forgiven on federal programs like PSLF, many borrowers realize that paying as little as possible each month is ideal. However, maximizing forgiveness is about …
The calls for $50,000 worth of federal student loan forgiveness or cancellation continue to grow louder… borrowers should plan accordingly. Democrats have put forward resolutions in both the House and the Senate calling on President Biden to cancel up to $50,000 of federal student loans per borrower. Earlier this year, …
Private student loans are not eligible for Public Service Student Loan Forgiveness (PSLF). Other than a couple of rare exceptions, private loans cannot be converted into eligible federal student loans. While it might seem that eliminating private student loans and chasing after PSLF might be entirely different goals, they are …
Though discontinued, FFEL loans continue to cause significant issues for federal student loan borrowers seeking Public Service Loan Forgiveness (PSLF). Federal Family Education Loan (FFEL) program loans not federally held are not eligible for PSLF. However, borrowers can convert them into eligible loans through Federal Direct Consolidation. Unfortunately, this fix …
At first glance, the decision is easy: student loan forgiveness on an IDR plan is obviously better than repaying the debt in full, even if forgiveness takes 20 years. Upon closer reflection, things are not so obvious. Twenty years of living with debt is a long time. Between taxes and …
As a student loan borrower, I’m excited about the possibility of some form of student loan forgiveness happening in 2021. Democratic leaders like Elizabeth Warren and Bernie Sanders appear eager to cancel federal student debt. In Joe Biden, they have a powerful ally in the White House who may be …
We ranked the best student loan forgiveness programs according to how easy they are to qualify for and how many borrowers could be eligible. Some programs require borrowers to be in a specific field or occupation. Other programs only apply to federal student loans. Student loan forgiveness can also have …
Federal student loans have excellent perks like Public Service Loan Forgiveness (PSLF) and Income-Driven Repayment (IDR) Forgiveness. Borrowers who work for an eligible employer can have their student debt forgiven after just 10 years. Those who don’t work for a public interest employer have to wait for 20 years for …
Chasing after student loan forgiveness seems like an obvious decision. Student debt disappearing is far preferable to the painful process of repayment in full. However, if we look beyond the obvious, there are significant pros and cons to going after student loan forgiveness. Student loan forgiveness comes in many forms. …
Many borrowers end up with gaps in their student loan repayment. These repayment gaps can affect the chase for student loan forgiveness. Sometimes a break in payments can be the result of a simple accident, such as a missed payment. Other times, a financial hardship may force a borrower to …
