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Let’s Explore the Eligibility Criteria for Student Loan Forgiveness

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  1. Income-Driven Repayment (IDR) Forgiveness:
    • If you’re enrolled in an IDR plan, your monthly payment is based on your income and family size. After making a certain number of payments (usually 20 or 25 years), any remaining balance on your student loans will be forgiven. The newest IDR plan, the Saving on a Valuable Education (SAVE) Plan, allows forgiveness as soon as 10 years of qualifying payments have been made. The SAVE Plan includes additional forgiveness benefits that will go into effect in February and July 20241.
    • Eligible Loans: Direct Subsidized and Unsubsidized Loans, Direct PLUS Loans made to graduate or professional students, and Direct Consolidation Loans that do not include PLUS loans made to parents.
  2. Biden-Harris Administration’s Additional Loan Forgiveness:
  3. Other Federal Student Loan Programs:
  4. Additional Criteria:

Remember to verify the details with official sources and consult with your loan servicer to determine your eligibility for student loan forgiveness4. 🎓📚

Student Loan Forgiveness: Hundreds Set to Benefit from Special Program

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