More Answers for Student Loan Forgiveness Plan

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Joe Biden GIF

US President Joe Biden announced the student loan forgiveness program in August that can wipe federal student loans up to $20,000.

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Joe Biden Cool GIF

Moreover, the plan includes an extension of the student loan payment pause.

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Joe Biden Jill Biden GIF

After all, there are some things you need to understand as the student loan forgiveness plan faces multiple legal challenges.

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Graduation Pose GIF

How do I know if my loan qualifies for loan forgiveness? To be qualified for forgiveness, you must have federal student loans and earn below $125,000 (individual) or $250,000 (married couple) annually.

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Kim Kardashian Money GIF

Are student loans automatically forgiven? The Department of Education started emailing around 8 million federal loan student borrowers who are automatically qualified for the student loan forgiveness plan.

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Graduate Graduation GIF

It’s feasible as they already have gross income or AGI data for either 2020 or 2021.

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Graduation Toss Cap GIF

Can I ask for my student loans to be forgiven? Yes, you should contact your loan servicer to guide you go through the process.

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Dab Dabonthehaterz GIF

Is student loan forgiveness a good idea? The student loan forgiveness program could significantly impact the lives of 43 million Americans who are student loan borrowers.

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Mamma Mia Donna Sheridan GIF

It will help them to manage their budgets, build wealth, and improve financial security.

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Graduation Day GIF

Can you get a 700 credit score with student loan debt? According to FICO statistics, around 38% of consumers with student loan debt over $50,000 in total have a FICO score of over 700.

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Slow-motion shot of a girl studying at home.

However, the student loan forgiveness plan can help Americans to improve this number.

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Slow-motion shot of two women talking at a cafe.

Student Loan Forgiveness, More Answers for You

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One Day At A Time Penelope Alvarez GIF