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Biden to Forgive Student Loans in August 2022?

  Alright folks I’m back with another student loan update! According to CNBC, Biden is set to make a decision on student loan forgiveness by the end of August 2022. Now while I’m not entirely sold that this is actually happening, there are several things for you to be aware of. First things first there is still no clear information on how much will be forgiven. While Biden did discuss student loan forgiveness of $10K during his campaign trail other sources have reported higher amounts of 50K. Of course, none of this is set in stone and we are all waiting to hear something. This is a thumbnail of my latest YouTube video on “Biden to Forgive Student Loans in August?” I am looking at the camera suspiciously while seated in my office. The background is red. There may also be income restrictions of who may qualify for student loan forgiveness. Single folks may have a threshold of 125K-150K while those who are married may be between 250K-300K. There is also some talk surrounding what typ
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Biden Just Forgave 5.8 Billion in Student Loans!!😳

 So as you all know I have completely lost hope in student loan forgiveness at this point. With another extension and no word on loan forgiveness I have just given up and decided to pay my student loans. However, some news from the Biden Administration last week has somewhat restored my faith. Just last week Michael Cardona, The Department of Education’s Secretary announced that President Joe Biden would be forgiving 323,000 individuals student loans! This equates to 5.8 billion dollars in student loan forgiveness y’all!

Figure 1: This is a thumbnail of my latest video “Biden Just Forgave 5.8 Billion in Student Loans” where I am wearing a green shirt with my hair in a bun and a surprised look on my face.

Now if you are a person with a significant and permanent disability that prevents you from working then you are eligible for this loan forgiveness. Previously individuals with disabilities could apply for loan forgiveness through the Total Permanent and Disability Discharge Act of 1965 however many borrowers never knew this even existed. Fast forward to August 2021 PWDs no longer have to apply because this will happen automatically through a Social Security Data match. For borrowers who were already receiving SSI the data match will be applied through June 2021 and forgiveness will occur sometime in September 2021. 

Figure 2: This is a photo of Michael Cardona, The U.S Education Secretary. 


 Now I know what your thinking, Ms. Duggan I don’t have a disability and I still have student loan debt ! Think about it though, previously PWDs had to apply for this type of loan forgiveness and are now having this applied automatically through a data match. What else can the Department of Education data match to see who can afford their student loans? I think this opens up a whole new world of possibilities that I actually have a new found hope for. Now don’t get me wrong I’m still paying on my loans but could their be a new glimmer of hope ? What do you think ? Drop down in the comments and let me know! Be sure to check out my latest video and share with someone who could use this information! 

PWDs= People with disabilities 

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