Babaamaajimowinan (Telling of news in different places)

Want to know if you qualify for student loan forgiveness? Here's how Minnesotans can find out.

The U.S. Supreme Court wiped out President Joe Biden's biggest student debt relief program last year. But the administration tweaked existing programs and added more tailored debt forgiveness efforts.

Here are some of the programs and who qualifies for them:

Income-Driven Repayment Forgiveness: Income-driven repayment plans base people's monthly federal student loan payments on their income and the size of their family. People who complete their payment periods, which are typically 20 or 25 years, depending on the plan, can have the remaining balance forgiven in some instances.

Public Service Loan Forgiveness: This program forgives student loan debt for people who work full time for a government agency or some nonprofits, if they have made 120 qualifying payments on a direct loan. Federal family education loans and Perkins loans aren't eligible for this program.

https://www.startribune.com/want-to-know-if-you-qualify-for-student-loan-forgiveness-heres-how-minnesotans-can-find-out/600378827/

 

Reader Comments(0)

 
 
Rendered 07/22/2024 07:04