Student Loan Forgiveness
I had two kids graduate this past year with Federal loans, will they qualify or do you need to be out of College for a certain period of time?
Another question I do have another child starting college and this semester she did get Pell money and took out a small Federal loan will she qualify or do you have to be graduated from college?
Last question..How does Parent Plus Loan fall into this?
Terry Says
Your children would seem to be eligible for the loan forgiveness program, though they haven’t published the details yet. I have not seen that there is a “years out of school” requirement. The final rules won’t be published for a month though. But they should have started repayment after graduation — even on a deferred basis. Make sure they are already in the loan repayment system.
There have been some hints that Parent Plus loans will be included in the loan forgiveness program — but again, no final word.
And re the Pell Grants — this is a one-time deal, and it doesn’t look like students still in school will qualify. But it’s a good question. And again, we will have to wait for details.
