First Round of Student Loan Forgiveness Under Trump Administration
The ADA recently shared an article from CNBC with members. Learn more below and read the full CNBC article here.
The U.S. Department of Education has begun issuing notices to some federal student loan borrowers regarding the possibility of full or partial student loan forgiveness.
Since the beginning of the Trump administration, the U.S. Department of Education has ceased student debt relief programs and phased out multiple income-driven repayment plans, according to a news article from CNBC. Experts cited in the article detailed that borrowers may be eligible for student loan forgiveness if they’re on the income-based repayment plan and have made 20 to 25 years of repayments on income-driven plans. However, the ongoing government shutdown could delay the processing of federal student loan forgiveness.
Those who qualify for debt cancellation but haven’t received a notice from the U.S. Department of Education were advised to continue making repayments until notified and are expected to be refunded for their overpayments.
