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Thirty Million Borrowers Set for Debt Relief

Thirty Million Borrowers Set for Debt Relief

by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Apr 15, 2024 | Loan Forgiveness

On April 8, President Biden released the details of his new student loan debt forgiveness plan. The plan would reduce payments for 26 million borrowers and erase all debt for four million more. Ten million of these borrowers will receive debt relief of over $5,000...
Biden Cancels $1.2 Billion More in Student Debt

Biden Cancels $1.2 Billion More in Student Debt

by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Mar 12, 2024 | Loan Forgiveness

Since 2021, the Biden administration has forgiven $138 billion in student loans for 3.9 million borrowers. The Administration announced on February 21 that another category of borrowers would have their loans forgiven by the end of the month. This $1.2 billion tranche...
The Disabled Are Eligible for Loan Forgiveness

The Disabled Are Eligible for Loan Forgiveness

by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Jan 25, 2023 | Loan Forgiveness

If a former college student with an outstanding student loan balance becomes disabled, he or she may not need to repay the debt under the provisions of the Total and Permanent Discharge (TPD) program. To obtain debt forgiveness, the individual needs to apply...
The Public Service Loan Forgiveness Program

The Public Service Loan Forgiveness Program

by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Nov 28, 2022 | Loan Forgiveness

One of the most popular student financial aid programs managed by the U.S. Education Department (ED) is the Public Service Loan Forgiveness (PSLF) program, and it’s easy to figure out why. PSLF promises Federal loan holders that, upon meeting requirements pertaining...
Launch of the Loan Forgiveness Application

Launch of the Loan Forgiveness Application

by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Oct 19, 2022 | Loan Forgiveness

In August, President Biden announced the Federal Student Loan Forgiveness Plan (the Plan), which will cancel 20% of the outstanding Federal student loan debt of $1.5 trillion. Debt relief will be granted to 43 million borrowers, eliminating the entire remaining...
The Federal Student Loan Forgiveness Plan – Part 2

The Federal Student Loan Forgiveness Plan – Part 2

by Micheal E. McKinnon, M.Ed., CCPS; College Planners of America, Ltd | Sep 13, 2022 | Loan Forgiveness

Last month President Biden announced the Federal Student Loan Forgiveness Plan (the Plan), which will cancel up to 20% of outstanding Federal student loan debt. Loan relief will be provided to about 43 million borrowers and it will eliminate the entire...

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