I am about 20 days from defaulting on my Student Loan, will the new IBR loan forgiveness help me out?
I have been having financial hardship for many years… I have come now down to the last 20 days and on July 1 the new Income based forgiveness act went into effect, do you think it will help me.. or at least forgive by past due balance? I already know that I qualify for it.
It’s called IBR which means Income-Based Repayment. They don’t forgive until the debt is 25 years old and other criteria have been met. Also, not all types of student loans will qualify.
