While President Biden's new student loan debt forgiveness plan doesn't apply to private student loan borrowers, there are still options for them to get some help.
If the debt is significant and you're having trouble paying it, you do have options. Refinancing a private student loan has multiple advantages and it should be pursued immediately if the alternative is default. With a student loan refinance, you're essentially consolidating your private or federal student loans into a new loan .
"No high-income individual or high-income household in the top 5% of incomes, by the way, will benefit from this action, period," Mr. Biden said. According to Mr. Biden, 27 million people will get $20,000 in debt relief, and 20 million people will have student debt fully canceled under this new program.If you you don't qualify for Mr. Biden's forgiveness plan or you want to get stared right away, you may also want to research some otherFor full-time teachers who have worked five complete and consecutive years in certain schools or services that serve low-income students.
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