I get the impression the government loan amount can be forgiven but not the interest?
Ms. Kelley has deferred her payments for the max time the law would allow (article says up to three years allowed).
The article says her final forbearance would expire in 16 months - and “…when you have the Internal Revenue Service. It is both difficult and illegal to hide money from the federal government, which can and will follow you as long as you live.”
I don’t think the IRS is working as well as it use to, but I am sure the enforcement provisions when you owe them money is working very well. And you better respond to their letters when they say you owe them money.
IDK about the government backed Parent Plus loan being bankrupted away - no private lender would let her borrow w/o the gov’t guaranteeing. So that would be added to what the government includes in her forbearance amount.
For the student described in post #35 - the interest is continuing to climb, and eventually she will end up in forbearance too.
Maybe some of these people think the laws are going to change - however I think enough people are sick and tired of paying their own bills and not have to pay for the folly of others. And some of the depths of student loans is ‘folly’ - a lot of it is for graduate school. Yes, some get in to it naively, but many people pay for things because they have been naive - time shares for example. I think the majority of people understand that our federal government already is operating in debt, and IMHO student loans are not a debt we as a nation can absorb.