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Student loan forgiveness

By Terry Savage on January 29, 2023 | College Savings / Student Loans

I just read your article seen on MSN.
I have been making payments during the pandemic forbearance to lower my debt so that when this program ended I would be charged less interest. I originally took out 25,500 to get a Masters. My current balance is 12,100. I have been paying for 15 years.
Should I go ahead and continue to make payments or stop until the new REPAYE plan is approved?
Should I make those payments at the new 5% proposed rate or the current rate?
What happens to the plan should I retire?

Terry Says

Wow, this has dragged on long enough! Right now, there is no point in paying. The first Biden plan — the $10,000 loan forgiveness — will be heard by the Supreme Court at the end of February. The plan I just wrote about could take its place if that is overturned. And for sure, you will have at least until June 1st to make a decision on how to proceed.

Ultimately, I think you should talk to student loan repayment expert Rae Kaplan at https://www.financialrelief.com/. She will know how to get organized to deal with whatever results. I know she will be jammed at that point, so you might want to get on her calendar now.

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