I have a 25K loan from my MBA. I paid off 100k whole, after graduation. 3 years ago, I moved my loan from federal to private ( SOFI) account. I recently lost my job. I have applied for unemployment, as the severance that I received will only cover for 2 months. Together my husband and I used to make less than 250k after tax. Now, with a loss of pay , we are going to make less. Do you think I will be eligible for Loan forgiveness?

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From my understanding if you took out federal loans and then got those loans transferred over or consolidated to a private lender, you loose all federal loan benefits. This is why I decided to wait and not consolidate my undergrad loans. I’m talking about the Biden loan forgiveness program. Not sure if you are talking about another program that I’m unaware of.

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This was a hot topic during the presidential debates. Biden promised to relief 10k of student loans. I waited bcz the loan payments were paused under Trump and continued to remain paused under Biden. Payments and interest are still paused till June I believe. The Supreme Court will decide if what Biden is doing is within his power or not. Google around and you can read further about this stuff.

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Not positive but you might be. Honestly super impressive you've paid off 100k whole. I've paid off maybe 75k total so far. Still have more than 50k to go.

I paid it off with my savings coz I hated to have such a big debt. Looking back, I could have used it for other investments and doubled it. Market was good those days. I wish I could pay off this remaining 25k, because of the interest rate. But, with the economic status and my job status, priorities change. Wondering if private loan holders can avail the student loan forgiveness benefit.

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