Student Loan Forgiveness

The Income-Contingent, or Income-Based Repayment Plans qualify you for loan forgiveness after 25 years of on-time payments. Forgiveness based on 20 or 25 years of on-time payments is only available to Federal Student loans. Private student loans do not qualify.

Source: debt.org

White House Pauses Student Loan Repayment for 3 Million Borrowers
White House Pauses Student Loan Repayment for 3 Million Borrowers
June 30, 2024  |  Consumer Finance

The Department of Education is reportedly pausing repayments for around 3 million student loan borrowers. The pause comes as the White House defends its new...

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Consumers Increasingly Expect Growth in Public Assistance Programs
Consumers Increasingly Expect Growth in Public Assistance Programs
May 28, 2024  |  Consumer Insights

Consumers are more likely to expect an expansion of public assistance programs than they were a year ago. Among the programs about which they have...

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Biden Cancels $6 Billion in Debt for Grads of Failed Art Institutes
Biden Cancels $6 Billion in Debt for Grads of Failed Art Institutes
May 01, 2024  |  Loans

The White House has forgiven $6.1 billion in loans for Art Institutes graduates. That’s because, the Department of Education said in a news release Wednesday (May 1),...

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Biden Offers New Debt Relief to Student Loan Borrowers
Biden Offers New Debt Relief to Student Loan Borrowers
April 08, 2024  |  Loans

The White House has unveiled its latest effort to offer relief to student loan borrowers. The plan, President Joe Biden announced Monday (April 8), targets borrowers who...

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FTC Refunds $4.1 Million to Student Loan Scam Victims
FTC Refunds $4.1 Million to Student Loan Scam Victims
March 13, 2024  |  Security & Fraud

The FTC is sending millions in refunds to victims of a student fraud scheme. The $4.1 million payments will go to some 27,000 consumers who were duped by a...

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Earnest and Payitoff Partner on Reduced Student Loan Payments
Earnest and Payitoff Partner on Reduced Student Loan Payments
October 23, 2023  |  Loans

Student finance FinTech Earnest and debt guidance firm Payitoff have teamed to help borrowers lower student loan payments. The two companies on Monday (Oct. 26) announced the launch of their...

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Some Borrowers See Student Loan Relief Despite Court Ruling
Some Borrowers See Student Loan Relief Despite Court Ruling
August 20, 2023  |  Debt

Earlier this summer, the Supreme Court struck down President Joe Biden’s student loan forgiveness plan. It was bad news for many borrowers, but not all...

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Biden Administration to Forgive $116.6 Billion in Student Loans
Biden Administration to Forgive $116.6 Billion in Student Loans
July 14, 2023  |  Loans

The Biden-Harris Administration is providing more than $116.6 billion in student loan forgiveness to 3.4 million borrowers. The Department of Education will begin notifying 804,000 of those...

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GOP Senators Move to Overturn Biden’s Student Loan Forgiveness
GOP Senators Move to Overturn Biden’s Student Loan Forgiveness
March 27, 2023  |  Politics

Senate Republicans want to revoke the White House’s plan to forgive some student loans. A trio of senators on Monday (March 27) introduced a Congressional...

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