Student Loan Forgiveness: One More Chance?

What's Next for Student Loan Forgiveness?In this podcast, we discuss the recent news that the previously announced student loan forgiveness is no longer a legal solution. We cover what to expect now that payments are restarting in October, including the new SAVE repayment plan, and the temporary ramp-up period. We also discuss the new path that the Biden administration is taking to try to achieve student loan forgiveness, and what that might mean for borrowers.Key takeaways:The previous Student loan forgiveness plan is no longer a legal solution, but the Biden administration is working on a new path to achieve it.The new SAVE repayment plan will lower payments for borrowers on income-driven repayment plans.There will be a temporary ramp-up period of 12 months after payments restart in October, during which borrowers will not be reported negatively to credit bureaus if they miss payments.The details of the new student loan forgiveness program are not yet known, but it is likely to be different from the previous plan.