The US government is going to forgive student loans of 804,000 borrowed in the upcoming weeks.
The Department of Education, United States has already started notifying borrowers that $39 billion in Federal student loans will be wiped-out totally in the next few weeks. If you are one of those borrowers, then you need to stay tuned to find out whether the loan you owe will be forgiven or not.
According to the Department of Education, the loan of 3.4 million borrowers worth $116.6 billion has already been approved by the Biden-Harris Administration, and now more than 804,000 borrowers are gonna get relief from their student loan.
Almodo on Adriana Ugarte
Only those student loans are gonna be written off who have already paid 20 or 25 years of payments or equivalent. If you did so, then you are one of those 804,000 individuals whose borrower is going to be forgiven in the upcoming week.
Who Qualifies For The Biden Student Loan Forgiveness?
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That means only those student loans are gonna be forgiven, who have made repayment for at least 240 months, even in a income-driven repayment plan, those who don’t have reached a certain threshold their loan is not gonna be written off.