Student Loan Forgiveness: The Best For Students, Woe To Taxpayers

Biden Student Loan Forgiveness of Upto $10,000 It will be remembered that President Biden once said in April, "I am considering dealing with some debt reduction. I am not considering a $50,000 debt reduction. But I'm in the process of taking a hard look at whether or not there will be additional debt forgiveness," Well, as he promised, he seems to have come to a conclusion where he promised to cancel at least $10,000 in federal student loan debt per borrower. ALSO READ: Top 5 Features of the Best Student Loans in 2022 If he keeps his word on student loan forgiveness, American taxpayers should be ready to go deeper into their pockets to pay the billions of dollars. 1 of 3 NEXT Two-thirds of all U.S. College Graduates Finish School with Debts. Although the step would highly benefit most students and become a great relief to them, most US taxpayers may not appreciate the move of Biden. According to the Institute for College Access & Success (TICAS) report, around two-thirds of all U.S. college graduates finish school with student debts. ALSO READ: Top 5 Great Benefits of Student Loan Consolidation Perhaps this student loan forgiveness is a great move for young adults struggling in their recently found jobs and hustles. PREV. 2 of 3 NEXT Do You Qualify for the Student Loan Forgiveness The loan is not for everyone. There are strict restrictions on who qualifies for the loan. So, if you don't meet the set criteria, you are out. This student loan forgiveness program is for borrowers who meet certain employment and payment criteria. That should tell you that this is not your thing if you are looking for a job. Why would they give loan forgiveness to the employed and leave out those struggling to get jobs? Well, that's what the program requires. Then one more thing to note: the loans being cleared and paid for are only the ones related to the federal government. So, it's not any other student loan. ALSO READ: Prince George, Princess Charlotte, and Prince Louis New School 2022 There are also strict qualifications - such as your occupation, specific student loan plan, military status, and more - if you want to have any portion of your loans cleared. If you have some private student loans, you may need to check out other options rather than this Biden's loan forgiveness. PREV. 3 of 3 PAGE 1

Student Loan Forgiveness: The Best for Students, Woe to Taxpayers

Two-thirds of all U.S. College Graduates Finish School with Debts.

1 Comment

Leave a Reply Cancel reply