Wait for IDR Forgiveness or Aggressively Repay Federal Student Loans?
The wait for Income-Driven Student Loan Forgiveness takes decades. In some cases waiting for debt forgiveness is the more expensive strategy.
The wait for Income-Driven Student Loan Forgiveness takes decades. In some cases waiting for debt forgiveness is the more expensive strategy.
Student loan forgiveness is a great way to erase debt, but it isn’t always the best decision for all borrowers.
Forgiving student loans for all Americans would be a huge boost to borrowers and the economy, but many negative consequences are also possible.
A gap in repayment may delay student loan forgiveness, but borrowers usually don’t have to start over.
Forbearance and deferments don’t usually count towards student loan forgiveness, but the Covid-19 payment pause is an exception.
You don’t have to work for the government or a non-profit to get student loan forgiveness. Options exist for private sector employees too.
PSLF probably isn’t going anywhere. Even if it PSLF was eliminated, existing borrowers have plenty of protections in place so that they can qualify in the future.
Tax-free student loan forgiveness sounds like a great deal, but there are times quickly paying off your student debt is the best approach.
Biden isn’t calling for student loan forgiveness for all, but he does want to make some major changes to life with student loan in the United States.