Chapter
Proposed Biden Plan to Help Eliminate Balances on Income Driven Payment Plans
03:31 - 12:25 (08:54)
Biden's proposed income driven plan includes capping monthly payments at 5% of discretionary income and eliminating balances for those who borrowed $12,000 or less and made payments for 10 years.
Clips
President Joe Biden's student loan forgiveness plan will provide relief to borrowers who are most in need of aid and will forgive up to $10,000 in debt for anyone with less than $125,000 income or $250,000 household income while avoiding giving handouts to the wealthy Americans.
03:31 - 06:51 (03:20)
Summary
President Joe Biden's student loan forgiveness plan will provide relief to borrowers who are most in need of aid and will forgive up to $10,000 in debt for anyone with less than $125,000 income or $250,000 household income while avoiding giving handouts to the wealthy Americans.
ChapterProposed Biden Plan to Help Eliminate Balances on Income Driven Payment Plans
EpisodeA New Plan for Student Loans
PodcastThe Daily
The recent extension of the student loan payment deadline until next year may cause confusion among borrowers and increase the workload of loan servicers, who will have to hire more people and implement new systems.
06:51 - 08:18 (01:27)
Summary
The recent extension of the student loan payment deadline until next year may cause confusion among borrowers and increase the workload of loan servicers, who will have to hire more people and implement new systems. This extension gives the government and loan servicers more time to prepare for the influx of borrowers seeking guidance and payment schedules.
ChapterProposed Biden Plan to Help Eliminate Balances on Income Driven Payment Plans
EpisodeA New Plan for Student Loans
PodcastThe Daily
Biden's proposed student loan plan includes capping monthly payments and offering an income-driven plan.
08:18 - 12:25 (04:06)
Summary
Biden's proposed student loan plan includes capping monthly payments and offering an income-driven plan. Borrowers who borrowed $12,000 or less and make their payments for 10 years could have their balances eliminated after that point.