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Title:Student loan forgiveness: Important tips to get your payments lowered or debt wiped out
Duration:04:18
Viewed:2,279
Published:05-04-2024
Source:Youtube

The Biden Administration is attempting to reduce or eliminate student loan balances for borrowers again, according to a report from The Wall Street Journal. The President and Founder of The Institute of Student Loan Advisors Betsy Mayotte joina Yahoo Finance's Wealth! to discuss student loan relief measures. Mayotte explains the "one-time account adjustment", which would give borrowers an opportunity to consolidate their current loans "to get the most benefits they can." This option, which has a deadline of April 30th, has a loan forgiveness benefit. She explains that for every period an individual has been under repayment, borrowers will receive credit towards the "forgiveness component" that exists under Income-Driven Repayment (IDR) or SAVE plans. Despite the uncertainty surrounding the potential legislative changes, Mayotte believes individuals who qualify for relief will not be affected even if Biden's proposal is ultimately struck down. She emphasizes that the process is already "half way to the finish line," encouraging borrowers to take advantage of the available options while they can. #youtube #stockmarket #news About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance



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