Is student loan forgiveness from the U.S. government after 20 years with a possibility of failure?
Suppose I'll have pay for 20 consecutive years of forbearance on my student loans government, somewhere around the year 2020. More precisely 20 consecutive years of forbearance financial difficulties. So that means once that happens my student loans the government will be forgiven or does the new law applies only to persons who have been in 20 years of repayment. Basically do in 20 years of abstention equal to 20 years of repayment when it comes to forgiving the U.S. government student loans. Here is a link with the new Yahoo Information the new student loan law. forgot to add the link http://news.yahoo.com/s/mcclatchy/20100326/pl_mcclatchy/3462278
New Bill applies only to loans that are taken after the June For most loans the only thing they do is cap your payment to 15% of your income, there is no forgiveness, the government can not force lenders to let you not pay, you must remember that the lender, and not the government. Prices of government, you the loan, but you took it from a lender, so even if it is a federal loan you need the lender if you owe the bank. This means that the bank / lender, not the government, to decide if she will forgive you loan after a certain period of time, you should contact them.
