What you need to know about student loans forgiveness

What you need to know!

 President Biden has canceled $10k in Federal Student Loans for individuals making less than $125k or couples making less than $250k. 

• Your eligibility is based on 2021's tax return.
• If you haven't filed 2021's return and are eligible, I would file ASAP.
• Reach out to your provider to find out if you have federal or personal loans.
• Call your personal loan provider (call first), studentaid.gov or the department of education and ask if any of your loans are federal.

If you received a Pell Grant you are eligible for an additional $10k in student loan relief. 

• Pell Grants are awarded to undergraduate students who displayed exceptional financial need. 
• As a grant, this money did not need to be paid back.
• Find out if you had a Pell Grant at www.studentaid.com

Federal student loan payments will be paused until December 31st 2022, which means your first payment will not be due until February of 2023, giving you six more months to come up with a game plan!!

Repayment plans will be cut in half for current borrowers, capping monthly payments to 5% of their total income. 

Are student loans a reality for you? What are your questions, comments, or concerns? We are answering ALL questions absolutely FREE. Email by clicking reply or dm us at @beyondthegreencoaching for support.