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College and University Discussion
Reply to "Have plenty in 529, but still taking out loans "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Biden talked about, like, $10k of loan forgiveness for people making under a certain threshold annually. There will never be full cost of attendance loan forgiveness for anyone who wants it.[/quote] You can’t take out federal loans for the full cost of attendance. Ex. capped at $5,000 for freshman,$6,500 t try or sophomores etc. Biden reportedly told lawmakers he is open to forgiving more than $10,000 in debt. "I am considering dealing with some [student] debt reduction, I am not considering $50,000 debt reduction but I'm in the process of taking a hard look at whether there will be additional debt forgiveness," Biden said Thursday when a reporter asked a question about student debt following a White House speech about aid to Ukraine. "And I'll have an answer for that in the next couple of weeks." https://www.msn.com/en-us/money/careersandeducation/biden-says-hell-have-an-answer-on-student-loan-forgiveness-in-the-coming-weeks-e2-80-94-but-shuts-the-door-on-2450000-in-debt-relief/ar-AAWHP6x[/quote] Parents can take out up to the cost of attendance in parent plus loans for their kids. So $100k+ in loans. Those are considered federal loans as well. [/quote]
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