hello hello! if youre usamerican with federal college debt thats about to start needing to be repaid, you should make sure youve gone to check out the new SAVE income based repayment plan the biden administration recently passed. this plan allows you to pay a monthly deposit that’s calculated based on your income. a few things make this different from the existing income based plans, including that your monthly repayment could be as low as $0 per month. if you pay the calculated amount, no further interest is accrued for the month, and if you keep up with these payments (which again, if youre like me and you dont make a lot of money might be ZERO dollars per month) then all your remaining debt will be forgiven after 12-25 years depending on your specific loans. the program application is very easy but processing takes about a month, so nows the time to get it in before repayment begins in november.
tldr: the SAVE federal aid plan can have you paying $0/month with no accruing interest on your student loans towards a guaranteed debt forgiveness after 12-25 years and you can read more about it and apply for it here!
829 notes
·
View notes
It’s never been a better time to get rid of your student debt.
Although President Joe Biden’s plans to cancel up to $400 billion in student debt for tens of millions of Americans were foiled over the summer at the Supreme Court, his administration has explored all of its existing authority to leave people with less education debt.
As a result, more than 3.7 million Americans have received loan cancellation during Biden’s time in office, totaling $136.6 billion in aid.
In a recent exclusive interview with CNBC, Rep. James Clyburn, D-S.C., who has been a vocal advocate for student loan borrowers, said he’s heard from the U.S. Department of Education that every two months over the next four years, another 75,000 people will be eligible to have their debt forgiven due to changes in income-driven repayment plans and Public Service Loan Forgiveness.
-----
The Biden administration has been evaluating millions of borrowers’ loan accounts to see if they should have had their debt forgiven. So far, more than 930,000 people have benefited, receiving over $45 billion in debt cancelation.
Most people with federal student loans qualify for income-driven repayment plans, and can review the options and apply at Studentaid.gov.
Recently, the Education Department also announced it would soon cancel the debts of those who’ve been in repayment for a decade or more and originally took out $12,000 or less. To qualify, borrowers need to be enrolled in the administration’s new Saving on a Valuable Education, or SAVE, plan.
-----
The Biden administration has tried to reverse the trend of borrowers being excluded from the relief on technicalities. It has broadened eligibility and allowed people to reapply for the relief, as long as they were working in the public sector and paying down their debt.
Some 790,000 public servants have gotten their debt erased as a result, amounting to more than $56 billion in relief.
------
The Biden administration has also forgiven the student debt of more than 510,000 disabled borrowers. The $11.7 billion in aid was delivered under the Total and Permanent Disability Discharge.
----
Another 1.3 million borrowers have walked away from their debt over the past few years thanks to the Borrower Defense Loan Discharge. These people received $22.5 billion in relief.
Borrowers can be eligible for the discharge if their schools suddenly closed or they were cheated by their colleges.
-----
The Biden administration is also working to revise its broad forgiveness plan to make it legally viable.
The president may try to deliver that relief before November.
That alternative plan, which has become known as Biden’s “Plan B,” could forgive the student debt for as many as 10 million people, according to one estimate.
61 notes
·
View notes
I now officially take commissions!
Prices and options are here on my Ko-fi page ✨ I greatly appreciate any tip as well 💖
For anyone worried; I will still be answering asks and taking requests here, but commissions will always be a first priority. I do have a lot of asks in my inbox and there's no guarantee if or when I'll get around to answering all of them. So if there's something you really want me to draw, you should consider commissioning me for it✨
25 notes
·
View notes
(via Check Out Taxidermy at This Library in California - Atlas Obscura)
The materials to create the coyote (left) are commonly used for building stop motion puppets; a raccoon (right) looks lifelike after Binard mounts the hide on the form.
Nature-to-You Loan Library
7 notes
·
View notes