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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGot Some Good News
I'm cautiously reserved as to what this actually means but I did get a letter from Dept of Education about them processing my student loan forgiveness.
They will send something to my loan servicer on June 5th and the loan servicer will then start the process to forgive "some or all of my loans" is the key phrase. The
Despite paying, off and on, for years I still owe more than I actually borrowed, it currently sits at $116,000.
Hopefully it's the remaining balance or at least a good chunk of it.
I'll know more after June 5th. Wish me luck 😊
Walleye
(31,538 posts)Johnny2X2X
(19,699 posts)If you don't get a good amount forgiven, the income based plans right now are game changers for most borrowers.
KS Toronado
(17,893 posts)will you change your handle to happychair?
if they forgive all of my loans I will change my handle to "happychair"
(Though the name actually comes from a song by the band Alice in Chains. I'm not actually angry all the time😊 )
steelyboo
(340 posts)PatSeg
(48,462 posts)That is loan shark finance. I can't believe how long they've gotten away with it.
Goddessartist
(2,065 posts)I hope all is forgiven!
calimary
(82,027 posts)Seems to me its just highway robbery when folks like you somehow wind up owing more, sometimes WAY more, than what was originally borrowed.
peppertree
(22,098 posts)We're all pulling for you!
bucolic_frolic
(44,100 posts)So don't let it go to your head, and don't spend it all in the same place.
orleans
(34,211 posts)DFW
(54,918 posts)Debts are one of the few things that frighten the living crap out of me, and I have avoided them like the plague all my life, no matter WHAT I gave up in the process.
Hanging over me like a black cloud on an otherwise sunny day, I could never fully relax or feel at ease with a large debt hanging over my head, especially one greater than whatever cash I could spare. I REALLY hope you manage to be rid of this!
FailureToCommunicate
(14,092 posts)made this possible
when you vote!
(JK JK. Congrats.)
lindalou65
(258 posts)I hope at least a good chunk of your loan will be paid off. I have a student loan too but I owe about $24,000 and at least I don't owe more than I borrowed. Good luck!!
rurallib
(62,586 posts)DENVERPOPS
(9,123 posts)malaise
(270,809 posts)Good luck😀
LostinRed
(841 posts)I hope it works out and the entire thing gets wiped. I know the burden of large student debt. I refinanced mine when Obama signed the law taking my loans from 6.5% to 2.5% and that was a huge relief really saved me so much. I was fortunate to be able to pay all mine back.
peacebuzzard
(5,200 posts)Duncanpup
(13,182 posts)LiberalFighter
(52,161 posts)Had my loans in the early 70s. Got mine paid off about 1983.
Those student loans now seem to be a scam. But it doesn't help tuition is much higher now.