once, members of Fresh Start get another chance. This benefit applies to all student loans, including loans that were already rehabilitated once during he Covid-19 payment pause.: Membership in this program means the U.S. Department of Education stops reporting your default status to the government credit reporting system . This means you have a better chance at getting approved for other government-backed loans, including government-backed mortgages.
In the meantime, Fresh Start participants will also gain access to programs that can make that part easier. This includes income-driven repayment programs, alternative student loan forgiveness programs like Public Service Loan Forgiveness , and short-term deferment or forbearance for those who truly need it.
If you're currently in default on your federal student loans, the U.S. Department of Education says they'll reach out to you to tell you what you need to do to qualify for Fresh Start in the next few months. With that in mind, you will want to log into your account with studentaid.gov to confirm or update your contact details if you're interested in this program.
This means that some loans in default are not eligible for Fresh Start benefits, including the following loan types:Student loans remaining with the U.S. Department of Justice for ongoing litigationFFEL Program loans that go into default after payments resume later this year
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The USA is in decline— the world knows it! When its dollar is gobbled up by BRICS the emerging world economies, which is 41% of the world’s population, the G7 collapses. BRICS economic system, and that system is growing incredibly fast. China is eating Biden’s lunch!
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