What Is Happening with Student Debt Forgiveness in Ohio?

Jake Wells

If you have some student debt, you'll probably want to know where the government stands with the student debt cancellation issue. Currently, President Biden is considering limiting student loan forgiveness to borrowers who make less than $125,000 a year, according to the White House.

The Biden administration is nearing a decision on an issue that could affect millions of Americans and reverberate in the coming midterm elections.

“The president talked back on the campaign about looking at steps to help people making less than $125,000 a year, so that is the frame through which he’s making considerations at this point,” White House press secretary Jen Psaki said in a briefing on May 3, 2022.

If this $125,000 a year threshold is enforced by the Biden administration, some of the more than 43 million Americans who continue to hold student loan debt would not see any relief from the student loan forgiveness proposal.

What Can You Do If You're Struggling To Pay Your Student Loans?

As we wait for more updates from President Biden about student loan forgiveness, there are some other options on the table that might help you if you are struggling to pay your student loans. For example, if you serve in the military, work in public service or are a teacher, there are some government programs with the United States Department of Education that you can look into here.

In addition, there are also some programs you can apply for as a resident of Ohio. For example, if you are employed in Ohio as a state or federal public defender or state prosecutor, you may be eligible for the John R. Justice Student Loan Repayment Program. There are other programs you can look into as well here.

We will likely hear more from President Biden about any student loan forgiveness programs soon.

So, what do you think about this issue? Is student loan forgiveness a good thing or a bad thing? Please feel free to share your thoughts in the comments.

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Disclaimer: Please note that this article is only for educational and informational purposes.

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