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On December 20, 2022 the Department of Education’s Federal Student Aid Department sent an email stating, “As we previously announced, we have extended the pause on federal student loan payments. You will NOT have to make your loan payments that would have been restarted in January.”

Counting CoinsPhoto byPhoto by Towfiqu barbhuiyaonUnsplash. If you have student loan debt like me, you should know two important dates:. Student loan pause ends — repayment begins January 1, 2023.

The average cost of student loan debt for a degree ranges from $60,000 to $100,000 for many students around the country who embarked on a standard degree to pursue their career choices. However, for those who seek to obtain credentials in some of the nation's highest-earning professions, the cost of earning an education can end up being millions.

Student loan forgiveness was recently proposed for more than 43 million people, as many will benefit by having up to $20,000 wiped from their balances. However, one 61-year-old woman says that she will never pay back her debts.

An application for student loan forgiveness is now open, and eligible individuals are strongly encouraged to apply. The process to eliminate a portion of student loan debt is finally in motion. The United States government released a preliminary application form for the student debt cancellation plan on Friday, Oct. 14.

Student loan borrowers are receiving some relief from President Biden's new plan.Charles Deloye/Unsplash. President Joe Biden has created some breathing room for those struggling with student loan debt. CBS DFW report that as word spread across Texas college campuses, reaction was positive, but still mixed.

Today President Biden announced his administration’s proposed plan to forgive millions of past and present student’s loan debts. In his detailed plan, people who borrowed money that earns less than $125,000 a year or families who bring in less than $250,000 a year would be eligible for $10,000 in loan forgiveness. Those who received Pell Grants need more financial help, so the government would forgive an extra $10,000 bringing the total to $20,000 for grant recipients.

A father of two is drowning in student loan debt as a result of putting his two children through college a few years ago. The man, George Botelho, a Boston resident, depleted his savings in addition to taking out Parent Plus loans over the course of eight years in order to make sure his kids received their degrees. A few years later, his life took a turn when he went through a divorce that left his finances devastated.

The Biden Administration has granted more than $25 billion dollars in student loan relief since taking office last year. However, as many students have seen their debts wiped away, millions are still left with hundreds of thousands in loan payments.

Corinthian Colleges were a for-profit group of educational institutions that operated between 1995 and 2015. Hundreds of thousands of students attended schools like ITT Tech, which promised deceptive job outlooks and misled students on the ability to transfer credits from other universities. However, they found themselves saddled with near-worthless degrees and mountains of debt that were likely to never be repaid via graduates' earnings.

Student loan debt has been crippling for many individuals over the past few years regardless of annual incomes or social class. One college graduate, who goes by the handle of @baddie.brad on TikTok states that he has paying his monthly payments over the past seven years, and has never missed a single one. Having shelled out at least $60,000 he expected the money to put a huge dent in the amount that he owes.

One can undertake many careers to create a successful and comfortable life for themselves. However, not all of them require a degree from a university. Contrary to public opinion, it is entirely possible to enter a trade and find just as much success as those who go to university.

Do you have student loan debt? Are you excited at the prospect of debt forgiveness? Well, President Biden revived the possibility of wiping millions of American student loan debt.

A 30 something-year-old father, found himself in the cold the other day. After months of trying to secure a home for his young family, the only refuge he could find was a tiny, slapped-together trailer in a mobile park nearly 100 miles from his job.

A former college student is in a position that she never imagined. After graduating college she found herself without a place to live. The 45-year-old woman, who was let go from her job recently, due to company downsizing was unable to keep up payments on her apartment and essentially made homeless. Although she had recently been accepted for another employment position after relocation from New York to Texas, she still had to wait until the apartment she eventually got approved for was vacant and move-in ready.

As student loan servicers have begun canceling student loan debt for those with private loans, many others still face mountains of debt for degrees that earn them less than $28,000 per year.

A college education is a right that most everyone has in the free world. However, as more and more generations seek out a college degree at the nation's top schools, the amount of debt owed is neverending.