
What’s Happening With Forgiveness For Student Loans On Income-Based Repayment Plans?
Millions of Americans hoping for student loan relief have been watching the Biden administration’s moves closely, especially those on Income-Driven Repayment (IDR) plans. While some recent headlines have fueled confusion, here’s what you really need to know.
The Department of Education has launched a targeted forgiveness program for borrowers who have made at least 20 or 25 years of qualifying payments under IDR plans. This is separate from the Supreme Court-blocked plan that aimed for broad relief. It’s not for everyone, but it’s already helping many.
In fact, over 1 million borrowers have already had their loans discharged under this program, with hundreds of thousands more expected to qualify over time.
If you’ve been making payments under plans like IBR (Income-Based Repayment), PAYE (Pay As You Earn), or REPAYE (Revised Pay As You Earn) or even if you’ve had periods in deferment or forbearance, you may still be eligible due to a one-time account adjustment.
Here’s how to stay informed and possibly qualify:
- Make sure your loan servicer has updated records of your payment history.
- Ensure your contact info is up to date on studentaid.gov.
- Watch for official notices regarding eligibility or forgiveness status.
This IDR adjustment is part of a larger shift toward making loan repayment more manageable, especially for those who’ve been in the system for decades.
The best news? Many borrowers are seeing balances fully canceled, even if they still had years left on their terms. And for some, this is finally bringing long-awaited financial peace of mind.
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Read the full article from the original source:
Yeshiva World News – What’s Happening With Forgiveness For Student Loans On Income-Based Repayment Plans?
Source: The Yeshiva World, July 2025