Student loan forgiveness is not coming soon, unfortunately. Recent reports say President Joe Biden didn’t put in the upcoming White House budget. If you were waiting for the good news, what should you do now?
First, let’s get into the recent updates about student loan forgiveness. Despite the bad news, you can still do something about your student debts. There are numerous other ways you could clear or at least reduce your loan balances.
If you have student loans, you know that it’s been a problem in the US for several years. Yet, you find people who somehow got rid of their student loans. You can also beat the odds if you’re willing to find solutions and get them done!
Student loan forgiveness isn’t in President Biden’s budget
The country may be recovering now, but the US was in bad shape during the pandemic. Most people lost their jobs and businesses. As a result, the economy took a huge hit.
Imagine starting your first day as president during that time! Yet, Joe Biden took on the challenge. He passed numerous executive orders to respond quickly.
In March 2021, he even made student loan forgiveness tax-free. This led many Americans to ask, “Will student loans be forgiven completely?” Everyone kept their fingers crossed.
Sadly, it didn’t come true. According to news reports, loan cancellation isn’t part of Biden’s recent annual budget. This means people still have to deal with student loan payments.