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Student Loan Forgiveness--What's Next?
On August 24, 2022, the Biden-Harris Administration announced a new student debt relief plan that includes student debt forgiveness of up to $20,000. In today's podcast episode, we're talking about what the three parts of this plan includes, some FAQs, and next steps!
We are still awaiting more information, but one additional thing that we've learned since this podcast episode was recorded is that, in order to receive relief, you must apply by December 31, 2023.
Once a borrower completes their application, they should receive forgiveness within 4-6 weeks. In order to receive relief prior to the payment pause expiring on December 31, 2022, be sure to apply before November 15, 2022.
IMPORTANT!! To be notified of when the Department of Education launches the loan forgiveness application, sign up for their email subscription:
https://www.ed.gov/subscriptions
Sources/Additional Reading
- The Washington Post: Who qualifies for Biden's plan to cancel $10,000 in student debt?
- StudentAid.Gov: The Biden-Harris Administration's Student Debt Relief Plan Explained
FREE Resources by Save Live Thrive™
- 2022 Goal Setting Workshop Workbook
- Organize Your Finances Workbook
- Mini Digital Budget Planner
Products & Programs by Save Live Thrive™:
- Digital Budget Planners
- The Budget Pro Spreadsheet
- Slash Debt
Interested in working with Charlotte?
Learn more about the Wealth Building Bootcamp, A 12-week group coaching experience designed to teach you how to build wealth, pay off debt, and live the life of your dreams.
Follow on Instagram
Follow on TikTok
Join our Newsletter
Help the Thrive With Money Podcast grow! Follow this link to leave a review.
Disclaimer: The content and information provided on this podcast is for educational purposes only and does not constitute professional mental health, financial, legal, or tax advice. For recommendations on your specific financial situation, you must additionally seek the services of an appropriate licensed mental health, theraputic, legal, accounting, tax, or investment professional.
Music written by Chris Glassman
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By Charlotte at Save Live Thrive™On August 24, 2022, the Biden-Harris Administration announced a new student debt relief plan that includes student debt forgiveness of up to $20,000. In today's podcast episode, we're talking about what the three parts of this plan includes, some FAQs, and next steps!
We are still awaiting more information, but one additional thing that we've learned since this podcast episode was recorded is that, in order to receive relief, you must apply by December 31, 2023.
Once a borrower completes their application, they should receive forgiveness within 4-6 weeks. In order to receive relief prior to the payment pause expiring on December 31, 2022, be sure to apply before November 15, 2022.
IMPORTANT!! To be notified of when the Department of Education launches the loan forgiveness application, sign up for their email subscription:
https://www.ed.gov/subscriptions
Sources/Additional Reading
- The Washington Post: Who qualifies for Biden's plan to cancel $10,000 in student debt?
- StudentAid.Gov: The Biden-Harris Administration's Student Debt Relief Plan Explained
FREE Resources by Save Live Thrive™
- 2022 Goal Setting Workshop Workbook
- Organize Your Finances Workbook
- Mini Digital Budget Planner
Products & Programs by Save Live Thrive™:
- Digital Budget Planners
- The Budget Pro Spreadsheet
- Slash Debt
Interested in working with Charlotte?
Learn more about the Wealth Building Bootcamp, A 12-week group coaching experience designed to teach you how to build wealth, pay off debt, and live the life of your dreams.
Follow on Instagram
Follow on TikTok
Join our Newsletter
Help the Thrive With Money Podcast grow! Follow this link to leave a review.
Disclaimer: The content and information provided on this podcast is for educational purposes only and does not constitute professional mental health, financial, legal, or tax advice. For recommendations on your specific financial situation, you must additionally seek the services of an appropriate licensed mental health, theraputic, legal, accounting, tax, or investment professional.
Music written by Chris Glassman