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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This is a big help to my son.  He had to take $7500 in loans sophomore year and just got another $7500 for junior year. I wish he could get the full $10,000 forgiven, but I guess he can only get forgiven what he took last year?  Still, I'm thrilled he will have that $7500 wiped off the books.[/quote]

Bear in mind that it will be based on your income as his parent(s). But also Biden is aiming to improve the income-based repayment plan so that he'll only have to pay 5% of his discretionary income towards his loans and get forgiveness after 10 years, which is really not bad.[/quote]

That's be awesome. I think he will need to take another $7500 for senior year.  That will bring his total to $15,000 in loans. If he can pay that off in 4 years it would be best, but if not I'm hoping to help him pay it off after his younger sibling is through with college.  I assume he will be able to find a decent paying job after graduating, so he probably will be able to pay off the remaining loans. But the $7500 forgiveness does help![/quote]

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