this post was submitted on 29 Nov 2024
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Asklemmy
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As much as it sucks, we most likely aren't getting student loan forgiveness. It didn't happen while Biden was in the height of his presidency, so it's even less likely to happen now. It's especially not happening now when the next guy up would most likely just repeal anything shoved through for it at the last minute before he takes office.
Switching to a government backed loan like you did should give you more options to potentially continue deferment based off your income, but that is something you would need to sort out with your loan provider. The term is "income based repayment".
It didn't?
In his first year in office I remember loans were getting partially forgiven through the public service forgiveness, (for firefighters, teachers, first responders and other civil servants) Prior to Biden, that program forgave ~7,000 loans in full or in part since it started in 2007. Overall, the current leadership has forgave some or all student loan debt for over 4 million people so far. That's pretty great I think. Hopefully they manage to help a few more of the remaining 10 million victims.
I think I acknowledged that first paragraph. But is the new administration going to have the manpower to do anything about it?