Top Things You Should Know About Student Loan Forgiveness
Recently, President Biden, Vice President Harris, and the U.S. Department of Education declared a three-part strategy to help working and middle-class federal student loan borrowers shift back to regular payment plans as the student loan pandemic-related support is set to expire on December 31, 2022.
This plan includes loan forgiveness of up to $20,000 for Pell Grant recipients and $10,000 for individuals that didn’t receive a Pell Grant.
Many borrowers and families may be asking themselves, what do I have to do to claim this relief? Or am I eligible? In this video, one of our financial coaches, Allison Rosenberg explains a few key concepts as we all try to navigate this new program. There will be more details announced in the coming weeks so stay tuned.