What Should You Make of Total Student Loan Forgiveness?

If You Want Your Loans Forgiven, Programs Already Exist For That

  • Forgiveness programs based on where you work or your profession: These include well-known programs like Public Service Loan Forgiveness (PSLF), as well as various options for teachers, nurses and other healthcare professionals, members of the military, and more.
  • Assistance programs, which may not offer total forgiveness but may help with some or all of your balances.
  • Repayment programs that will help reduce your monthly payment now, while eventually forgiving the remaining balance on your loans after a (long) period of time: These would be your Income-Based Repayment (IBR) plans, your Pay As You Earn (PAYE) and Revised Pay As You Earn (REPAYE), and so on.
  • Cancellation programs, like the option for Federal Perkins loan cancellation for qualifying individiauls working in specific professions like firefighters, law enforcement, public defenders and service volunteers.

Will You Really Get Your Loans Forgiven Through These Existing Programs?

How To Think Through The Current Chatter Around Total Student Loan Forgiveness

The Headlines Are Never A Good Suggestion For How You Should Manage Your Own Money

  • The Moral Hazard Of Student Loan Forgiveness
  • JPMorgan CEO Jamie Dimon: Student Loans Are “Irrational”
  • Student Loan Forgiveness Is CHEAPER Than The Republican Tax Scam
  • Canceling all student debt is a bad idea

The Bottom Line on Student Loan Forgiveness (For Now)

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Eric Roberge

Eric Roberge

#FinancialPlanner helping 30 & 40-somethings build #wealth & think differently about #money • Top #FinancialAdvisor in #Boston • www.BeyondYourHammock.com