Curious what the thinking is - is this a one time forgiveness only for loans taken prior to 6:30/22 or do you think this possibly could be continued?
To be honest, I am not 100% sure if the current loan forgiveness is a done deal or not. Republicans are suing to stop it and if it goes to Appeals Court/Supreme Court, it might be struck down.
If Congress has passed the bill, it’s solid but with Executive order, all bets are off (No relation but DACA itself was struck down by Appeals Court which again was an EO).
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Anything about this loan forgiveness being continued would be speculation.
And please, there is a discussion on the political forum about this…so please keep the politics out of this one.
Bottom line is that I would not take out any loans assuming they will be forgiven.
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This!
I also wouldn’t assume additional forgiveness in the future. But the new income based repayment options might appeal to some people. It wouldn’t be irrational to take out a loan while waiting to see if that option makes sense, assuming interest won’t accrue and the borrower isn’t overextending based on rosy expectations.
I’m hoping for a loan that was taken out in July. Missed the deadline by 2 weeks