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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

MORE Student Loan Forgivness Mr. BiVen?!

 

The Biden administration is back again with more student loan forgiveness ya’ll! It almost feels like a lottery at this point with everyone hoping that they will get the chance to have their loans forgiven too. In this episode of “Whose Loans will be Forgiven this Time”, 415 million dollars in student loan forgiveness will be given to students who attended several schools who were found to have not been honest about their job placement rates or other things that ultimately resulted in most closing down. Many of these schools advertised substantially throughout the years so the names that I am about to list should sound familiar.


Figure 1: This is a thumbnail of my latest YouTube video "MORE Student Loan Forgiveness Mr. BiVen?!" where I am sitting in my office while looking at the camera. I have on a shirt that reads "To My Black People I Love You".


The schools include ITT Tech, DeVry, Westwood College, and Minnesota School of Business/Globe University. Am I the only one that remembers seeing the constant ITT Tech commercials during the Maury Show? They had a solid advertising campaign during the early 2000s! Now close to 16,000 folks will have their student loans forgiven. I can feel the excitement in the air!

 


Figure 1: This is a photo of ITT Technical Institute.

 

The most interesting thing about all of this is that this usually only happens when the schools have completely gone out of business. And while most of them are closed DeVry university is still serving students. DeVry was dishonest about their job placement rates by leading students to believe that 90 percent of their students obtained employment within the first 6 months of graduation between 2008-2015. However, this was not true, and it was about 58 percent!


Figure 3: This is a logo that says, “DeVry University.”

While the widespread student loan forgiveness of 10K is not happening like we hoped some folks are seeing relief. Are you still hoping that everyone will be included on the next go round? Are you someone who attended any of the schools that I mentioned? If so, drop down in the comments and let us know how this will affect you! If you are tired of waiting on Mr. Biden to forgive your student loans and are ready to create your own student loan forgiveness like I did be sure to check out my 8 tips to getting rid of student loan debt. I implemented each of these tips and paid off $14,180 in 9 months! For more information be sure to check out my latest YouTube video and tell me what you think!


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