Student Loan Forgiveness Coming?

There appears to be some momentum towards a measure of student loan relief with the current Democrat-controlled House, Senate, and Executive branches. Prsident Biden appears receptive to some type of relief ($10,000 to $50,000 forgiveness) although relief by executive order seems unlikely and certain to bring legal challenges. In February 2021, however, some members of the Senate introduced Senate Bill 146, a revisionary bill which in prior years dealt with student loan forgiveness as a result financial burdens brough on by medical distress. This definition is now being broadened to include those affected by unemployment or reduced income due to the COVID-19 pandemic. If passed by the Senate and House and signed into law this act would very likely have a limited time window for a debtor to file as the economic effects of the pandemic wane in coming years.

I will follow this and other related legislation closely so be sure to visit this site from time to time for updates.

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