Arielle

Arielle

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Student Loan Forgiveness and Who Now Qualifies

If you're like me, you've been looking for some relief from student loan debt. When I first applied for the loans I did so with the idea "well I'll get a good job and I'll pay it back". I was also reassured by my older sister already in college that student loan debt was normal and EVERYBODY spends the rest of their life paying it back. That was terrible advice but a serious reality, education debt was normal.

When Joe Biden announced the initial plan for loan forgiveness there wasn't a party in the streets. We were talking $20,000 for those who recieved pell grant and made less that $125,000 a year and $10,000 for those who didn't receive pell grant. I fell in the later category so My student loan debt goes from $64k+ to 54k+.

Now because of lawsuits filed by states the President has decided to scale back who qualifies for forgivness. This will effect over 700,000 people!

Check if you are a Pell Grant recipient and qualify for additional relief by logging into your Free Application for Federal Student Aid (FAFSA) account with your FSA ID. The portal should have your student aid report (SAR), which details the different financial aid awards you have received, including any Pell Grants. This information is also included in the financial aid award letter you received from the school you attended. -CNBC

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