In the wake of the Supreme Court's decision to deny the proposed blanket forgiveness of outstanding student loans, things are about to change for millions of student loan borrowers throughout the US.  Pandemic-era special provisions have meant that payments have not been required on federal student loans for almost three years.  Student loan payments for federal loans will be due starting in October 2023.

However, there is good news for those with student loan debt!  The Department of Education has recently approved new income-based repayment options.  If you qualify for this new program, your student loan payments may be cut in half.  In addition, the new program may qualify a person with student loan debt to have their remaining debt forgiven after only 10 years of income-based payments, rather than the traditional 20 years of payments required by the old income-based repayment plans.  There are numerous options and programs out there for student loan forgiveness and reduced payments, depending on what type of loan you have and which programs you may qualify for.

Student loan forgiveness and reduced payment options can be overwhelming and confusing.  Contact Limitless Law for help with choosing the best way for you to get your student debt under control.

This blog post is for informational purposes only and does not constitute legal advice. If you have questions about your own legal rights and options, please contact the knowledgeable team at Limitless Law PLLC to schedule a strategy session with our attorney. Call 360-685-0145 or click here to learn more.