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Student Loans
Government doesn't send checks to forgive student debt
Student Loans
No, the Biden administration’s latest $4.9 billion student debt relief isn’t a new program
The latest round of debt relief is primarily from adjustments to preexisting income-driven repayment (IDR) plans and public service loan forgiveness (PSLF) plans.
Student Loans
Yes, some student loan borrowers need to consolidate by April 30 to get one-time adjustment
Most borrowers will get the adjustment automatically, but borrowers with commercially managed FFEL, Perkins or HEAL loans will have to consolidate before April ends.
Student Loans
Borrowers eligible for new $9 billion in student debt relief don’t have to apply to get forgiveness
The Biden administration recently said it’s canceling another $9 billion in student debt for certain borrowers. We VERIFY what you need to do to see that relief.
Student Loans
Yes, the Biden Administration did cancel an additional $9 billion in student loan debt
125,000 people with federal student loans who fall into one of three categories will be eligible for new debt relief.
Shutdown
Yes, you are still responsible for paying your student loans during a government shutdown
Student loan repayments will resume in October — and interest will continue to accrue — even if the federal government shuts down.
Education
Parent PLUS loans can qualify for forgiveness if they’re consolidated
Parent PLUS loans can be forgiven under an income-contingent repayment plan or through public service loan forgiveness, but they must be consolidated first.
Student Loans
Yes, your student loans can be discharged in bankruptcy, but it’s not guaranteed
You have to prove your student loans are causing you undue hardship before the court will agree to discharge them in bankruptcy proceedings.
Student Loans
Qualified borrowers won’t have to do anything to get forgiveness from IDR adjustment
The Biden administration is automatically adjusting Income-Driven Repayment (IDR) plans and forgiving student debt of those who qualify because of the adjustment.
Student Loans
What the SCOTUS student loan forgiveness decisions means for borrowers: VERIFY Fact Sheet
VERIFY breaks down what borrowers need to know after the Supreme Court blocked Biden’s plan for one-time student loan forgiveness.
Student Loans
No, Supreme Court ruling does not eliminate other student loan forgiveness programs
The Supreme Court ruled against the Biden administration’s plan for one-time student loan forgiveness for most borrowers. But other forgiveness programs remain.
Student Loans
Yes, the average forgiven PPP loan is far more than $20,000 student loan relief
Posts online claimed the average forgiven PPP loan is much higher than $20K available in student loan forgiveness. That’s true – the difference is more than $50K.
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