For more than 800,000 student loan borrowers, today is a day to celebrate.
Essentially, the latest round of forgiveness is just the federal government finally fixing the way it counts payments.
The forgiveness is a part ofcorrections to income-driven repayment (IDR) plansthe administration announced in April 2022.
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Because of failures and mismanagement within the student loan system, many payments werent previously counted.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
The Biden Administration says they will notify affected borrowers in the coming days.
What Is an Income-Driven Repayment Plan?
Did you know?
What Other Changes Have Come to Income-Driven Repayment Plans?
What Should I Do Next if I Have an Income-Driven Repayment Plan?
He has written about personal finance for more than a decade.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
