Fate of student loan forgiveness: What you can do in the meantime?

ROANOKE, Va. – The fate of student loan forgiveness is still up in the air and people won’t know much until February of 2023.

Millions of Americans were preparing to start making payments on their student loans starting in January of 2023. Once again, the repayment pause is extended until June in response to the blocks on the student loan forgiveness plan.

Scott Kemp is a student loan advocate here in Virginia. He suggests people who can make some sort of payment to their student loans still should.

“Even though there was a payment pause, people can still make payments that they were making before. 100% of it goes towards the principal which pays down the loans faster,” Kemp said.

10 News spoke with Kemp back in August when the student loan forgiveness program was announced.

Since then, six lawsuits have been filed against it, two of which resulted in blocks.

Kemp said there are a couple of things people should do in the meantime.

“The first thing is they need to make sure their loan servicer knows how to contact them. The second thing is, if they’re still struggling with their income and their expenses, they can go ahead and get some of that income-driven repayment,” Kemp said.

If you want to find out more information about your student loans or student loan forgiveness, visit studentaid.gov.


About the Author:

Connor Dietrich joined the 10 News team in June 2022. Originally from Castle Rock, Colorado, he's ready to step away from the Rockies and step into the Blue Ridge scenery.