How To Get Student Loan Forgiveness | Updated

Student loan forgives between 10k to up 20k for pell grant recipients, were going to break down all the details in this video, from who’s really paying for it, what about if you already made some payments and so on.

So since 2020 I’ve been saying the same thing about this entire student loan thing, payments are paused but we don’t if the government is actually continuing to forgive the loans or part of it or whatever. Either pay if you are not optimistic or save the money you would pay in a separate account just in case and that’s what I have been doing.

So according to the details I’m going to give you in this video, I should also qualify for this entire student loan forgiveness, which would leave me with a balance of some $963.88
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1. First let’s break down the details

Pell Grants, people that exceptional financial needs like me back in college 20k

Non pell grants up to 10k

If you make less than 125k or 250k married

Just using coming sense here

The average person that has public student loan debt is going to qualify, only about 12% of Americans in total make that much money

Forgiveness of 20k or 10k is still somewhere between 31% to 62% worth of forgiveness which goes a long way for anyone ( based on a 32k average student loan balance )

Most of these loans will be forgiving automatically but their will be applications opened mid October or so; and once complete they can expect to see a reduction in 4-6 weeks

2. Super important question

If you made any payments between March 2020 when the pause started and now, you can get a refund on those payments, so that when balance is adjusted you have your money back

So call your student loan provider and ask them to refund the payments so that the forgiveness can be applied to total amount

And for those smooth criminals

Asking I only owe 8k can I keep the 2k

That answer is not today player

3. There is a 3rd part of this plan that not many people are taking

First they plan to the following:

Reduce the minimum payment payments from 10% of discretionary income to only 5% ( meaning smaller lower payments lol

Raise income that is considered under non discretionary income, meaning no one making the equivalent of $15 minimum wage single will have to make a payments

Forgive loans after 10 years of payments, instead of 20 years for loan balances of 12k and less

Cover the borrowers unpaid monthly payment, so if you payment is 0$ monthly youre capital will not grow because of your income

Capitalism usually tend to benefit the individual especially during times of competition ( the guys run a soon coming to an end )

4. I’ma be real with you guys:

I know your mom told you this before ( nothing is free on this earth )

So 300billion dollars is going to have to come from somewhere, that’s me and you and maybe even our kids

Second : this is politics, If I do things to make the crowd like me, maybe I will reelected and everything else will be erased

Third: this helps a lot of people, and I have friends that this is going to make a legit different in their life, and I can never be mad at them, but I also know people that worked hard pay off their loans ( part of the game )

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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