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Have you ever been asked, “do you want the good news or bad news first?” I’ve always abhorred that question… Loan forgiveness approval emails have gone out, did you receive one? What does it mean for your student debt?
So, let’s get into the good news!
As suggested in this blog, those that applied for forgiveness in October, received the following email:
While it is nice to know if you’ve been approved, the bad news, is there is no date of when the funds will be disbursed to loan services.
With student loan repayments resuming in January, we can only hope the relief is applied soon. However, there are sources that say Biden will extend repayments as he fights lawsuits to grant loan forgiveness. Read more, here.
Loan forgiveness is necessary for those of us still playing financial catch-up because we chose to go to college. Likewise, the economy will see a much-needed resurgence with loan forgiveness, as student debt is the largest source of individual debt in this country.
As promised, I will continue my research and updates to provide you with the most up-to-date loan forgiveness news.