Student Loan Forgiveness Approvals Going Out

[Sympthsical]

My nephew got an e-mail from the DoE yesterday. However, because of the lawsuits, the relief is on hold. He was one of the people who put in applications in October when they opened up. So I guess they're sending e-mails out to those who are approved now.

From the e-mail about the status.

Unfortunately, a number of lawsuits have been filed challenging the program, which have blocked our ability to discharge your debt at present. We believe strongly that the lawsuits are meritless, and the Department of Justice has appealed on our behalf. Your application is complete and approved, and we will discharge your approved debt if and when we prevail in court. We will update you when there are new developments.

The Biden-Harris Administration is committed to helping borrowers as they recover from the pandemic.

Education is a great equalizer, and we will never stop fighting for you!

In Service,

Miguel A. Cardona

U.S. Secretary of Education

So they're still processing everything despite the lawsuits.

[mahina]

1. Congrats. What of the payments due?

[Sympthsical]

2. He's on deferral

Even without the Covid breaks. He's been doing school-related things, so January wasn't going to be a thing for him.

I know it's different for my niece. She also applied, but hasn't yet heard back. But come January, she would have to pay if the loan still exists. I think. It's kind of a mess to sort out, it feels like.

Then there's my partner who never stopped paying during Covid and wasn't eligible for forgiveness (makes too much). His philosophy: "I just want these over with."

[haele]

3. Got my notice on Friday.

Should leave me with $7k left to pay off once the court BS is over with, very do-able. I can re-negotiate with my loan servicer and drop the remaining payments down to $200 a month over the next three years instead of continuing to pay $475 a month for the next four.
That's what a lot of the people complaining about this don't 'get' -
this EO did not forgive the students loan, it eased the burden of repayment on graduates and their families by about $100 to $200 a month depending on how much is left to pay on their loan.
It's not going to allow them to buy even a cheap car right then and there, it's just going to significantly ease the burden on them.

This is not like PPP loan forgiveness to GOP businessmen and fraudster who inflated their payroll to get enough taxpayer money to buy a new winter home or Maserati crossover sedans for family members.

Side note - One of the parents at the grandkid's Montessori school owns a Maserati dealership and occasionally drives showroom cars to the school - I have never heard a rather non-descript crossover sedan growl like that before. It sounded like a panther.

Haele