Applications for student loan relief will be available early October, White House says

President Biden laid out details of the Student Loan Debt Plan, forgiving $20,000 of debt for Pell Grant recipients and $10,000 for all other student loan borrowers. The payment pause has also been extended one more time through December 31, 2022.

"Once the borrower completes the application, they can expect relief within four to six weeks," Ramamurti said. "So borrowers are advised to apply by roughly November 15th in order to receive relief before the payment pause expires on December 31st."Borrowers can sign up atNot everyone who is eligible for loan forgiveness underThe Education Department already has income data for about eight million people, which is about 20% of borrowers, Ramamurti said.

"That means, practically speaking, compared to the previous year, 1.7 trillion more dollars are coming into the Treasury than are going out. And we’re using a portion of that — a very small portion of it — to provide relief to middle-class families, consistent withBiden’s plan includes forgiving $10,000 in federal student loan debt for those with an income less than $125,000 individually or $250,000 for a family.

Another aspect of Biden’s reformed income-based repayment of federal student loans. Borrowers who have undergraduate loans can cap repayment at 5% of their monthly income, down from a previous 10%.

Conveniently, no one gets their refund until after the election. If ever.

No they won't. This will have disappeared by then.

It will be challenged in the courts.

Do you know what this means? College tuition will go up $10,000-$20,000 mysteriously.

Beside the fact it is illegal, tax payers will be footing the bill for generations while universities continue to raise tuition to support their bloated administration staffing.

GFYS

You can't 'forgive' with money that isn't yours

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Student Loan Forgiveness: Borrowers Could See Relief Before December, Biden Admin ConfirmsAfter President Biden announced student loan forgiveness, millions flooded the internet with questions: Am I eligible? Where do I apply? When will I see relief? One of those now has a clearer answer: The application will be available in early October 👏👏👏. Let's Go! Sign me up Pay your bills, it's a sign of moral character.
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