Student loan forgiveness: what you need to know

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With $1.7 trillion of student loan debt in America, student loan forgiveness is at the forefront of most borrowers’ minds. Yahoo Finance, Financial Reporter Ronda Lee reports on repayment options for borrowers. It is important for borrowers and potential borrowers to prioritize knowledge of loan options and what they offer.. or don’t. Federal loans tend to be deferred for the duration of the borrower’s education, while some private loans may require repayment while still in school. Federal loans generally are eligible for income driven repayment (IDR). Considering what comes after borrowing and graduating will help significantly in making the right loan choice.  To see more of Yahoo Finance's student loan week, click here: Student Loans: Crisis or Crucial?

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Student loans: Education official explains what borrowers should knowFederal student loan payments are set to resume on October 1 with interest already accruing for borrowers in September. U.S. Under Secretary of Education James Kvaal joins Yahoo Finance Live to share the list of federal programs that will aid Americans in paying off their student debt, including President Biden's SAVE plan. 'College costs now [are] not just an issue for a student but it's an issue for their families,' Kvaal notes. 'Oftentimes, people who are still repaying their student loans are struggling to pay for their children's education, struggling to start a business or start a home, so this really is an issue... that affects families and communities and really the economy as a whole.' Kvaal also goes into detail about updates to FAFSA applications and the challenges that put borrowers at risk of defaulting on their loans. Click here to watch more of Yahoo Finance's special coverage 'Student Loans: Crisis or Crucial?'
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