FINANCE GURU ADVICE

 The Biden Administration's $1.2 Billion Loan Forgiveness for SAVE Plan Borrowers In a ground breaking move aimed at easing financial pressure on students, The Biden Administration has recently announced a significant milestone in their ongoing efforts to address the student loan forgiveness crisis. With the approval of $1.2 billion in student loan forgiveness, over 153,000 students enrolled in Saving on a Valuable Education(SAVE) Plan will benefit from this initiative. The cancellations were initially scheduled to start in the month of July , however Biden speaks in California as he announces student loan relief for over 153,000 borrowers, which would be almost five months ahead of schedule in February. The Biden Administration started sending notification alerts to some of the borrowers, who will benefit from the SAVE Plan loan forgiveness.                                       ...

  STUDENT LOAN FORGIVENESS NEWS Biden administration greenlights $39 Billion Student Debt Forgiveness Plan. Biden Student Loans Forgiveness is for 804,000 student's. Just few weeks before Supreme Court overturned  Joe Biden's plan to cancel up to $20K of student debt's, however Biden administration declared that it would be forgiving student loan for 800K+ student's. This scheme came after Supreme Court's decision in June, which prevented Joe Biden from forgiving $441 billion in loans.   WHO WILL BENEFIT FROM THE PLAN? Biden student loans forgiveness is only applicable for borrower who have been making payment for 20-25 years. Immediate forgiveness will be provided to borrowers paying debt from two or more decades, yet still have a balance. Mainly focused on borrower's who repays their loans under Income-Driven Repayment(IDR). Late or Partial payments were also made eligible. Bank Services weren't keeping track of qualifying payments, so credits were given t...

  STUDENT LOAN FORGIVENESS WHAT IS STUDENT LOAN FORGIVENESS ? Student Loan Forgiveness is a financial relief scheme that eliminates a portion or complete of a borrower's student loan debt. These borrowers  have taken out loan to pay their college or university fee. This scheme is been introduced to help borrower's reduce their debt burden and improve their personal finance. The US Government invest a good amount from budget plan for student loan forgiveness.  DIFFERENT TYPES OF LOAN FORGIVENESS PROGRAM : a. Public Service Loan Forgiveness(PSLF) Program b. Teacher Loan Forgiveness Program c. The Perkins Loan Cancellation Program d. Total & Permanent Disability e. Closed School Loan Discharge f. Borrower Defense (School Misled) g. False Certification Discharge h. Forgery Loan Discharge i. Discharge in Bankruptcy j. Discharge due to Death ELIGIBILITY CRITERIA  AND STEPS TO APPLY FOR DIFFERENT LOAN FORGIVENESS PROGRAM :  a) Public Service Loan Forgiveness Progra...