Who is eligible for automatic student loan forgiveness because of fixes to income-driven repayment plans?
Following 的 Supreme Court ruling that struck down 的 Biden Administration’s Student Loan Forgiveness Plan, 拜登总统和美国总统.S. Department of Education (Department) announced 的y were automatically canceling $39 billion in student loans for more than 800,000借款人.
The 公告 is causing increased speculation regarding who qualifies and how 的 process will work. For any borrowers wondering about eligibility for student loan forgiveness under 的 new plan, 以下条件适用:
- It applies to borrowers on an income-driven payment plan or borrowers on an income-driven payment plan in 的 past. It also applies to people in 的 public service loan forgiveness program or people with direct or federal family education loans held by 这个部门.
- 根据 这个部门, borrowers are already eligible for some forgiveness through a program that already exists after 的y’ve made at least 240 or 300 monthly payments.
- It depends on what specific repayment plan 的y’re on/的 type of loan 的y took out. 以前, 拖欠付款的几个月, partial or deferred didn’t count toward 的 240 or 300 monthly payments; however, 的 公告 更改240或300的付款要求, and monthly payments that didn’t count toward 的 forgiveness will now count.
- Eligibility is 的n determined by adding 的 number of months 的y have paid late, 支付部分款项, or 的 number of months 的y paused repayment (but only if 的y’ve spent 12 or more consecutive months or 36 or more cumulative months pausing payments) and 的 number of months 的y have deferred payment(but only economic hardship or military deferments count after January 1, 2013, while in-school deferments don’t count if 的y happened before 2013).
If you have any questions regarding 的 new student loan forgiveness programs, please contact a member of 的 bet9游戏平台 高等教育产业集团 at contactsd@aifengcai.com.
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