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Reply to "Student Loans Forgiven!"
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[quote=Anonymous]Mine were forgiven under PSLF in summer of 2022. They were supposed to be forgiven in April of that year, so had 3-4 months of high anxiety waiting for it to happen. Federal student loans are generally forgiven after 20 years (undergrad loans) or 25 years (graduate school loan) of on-time payments. This has been the law and in the loan documents for decades. It has nothing to do with Biden. The issue was that the servicers lost track of payment counts or gave bad advice to borrowers about qualifying loans plans, and thus were not applying forgiveness according to the law. In short, the loan servicers were breaking the law and forgiveness was not properly applied until the Biden administration cracked the whip on the servicers. If you've made more than 20 years of on-time payments, you will receive a refund check from the US government for any amounts you overpaid. It's criminal that the loan servicers f#cked this up so badly for decades. [/quote]
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