IIRC, the portion with the 120 payments (10 years) is about 10-11 years old. So this is the "first generation" sort of.

Someone can correct me on that. I think the first generation actually started to hit their 120 payments at the end of the Trump admin, but there were a bunch of bureaucratic issues and chaos. Hence why

quote:
potato made it easier to use.

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Posted by RoosterCogburn585

Member since Aug 2011

1544 posts

Posted on 3/21/24 at 7:32 am to SlowFlowPro

So you are telling me that all $144 billion that he has "forgiven" has been because of this PSLF?

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Posted by Wally Sparks

Atlanta

Member since Feb 2013

29266 posts

Posted on 3/21/24 at 8:11 am to SlowFlowPro

quote:
Someone can correct me on that. I think the first generation actually started to hit their 120 payments at the end of the Trump admin, but there were a bunch of bureaucratic issues and chaos. Hence why

The first eligible borrowers hit the 10-year mark in late 2017, but most had issues getting forgiveness (as SPF's link noted).

I was under PSLF at the time but ended up accelerating payments just to get out of the debt early (it ended up being the same as if I had stayed on).

This post was edited on 3/21/24 at 8:15 am

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Posted by GRTiger

On a roof eating alligator pie

Member since Dec 2008

63225 posts

Posted on 3/21/24 at 4:05 pm to SlowFlowPro

It's 14 years old. Loans have been forgiven since 2018.

The only reason this announcement would be significant is if he decided to eliminate the eligibility verification process or otherwise cooked the system to allow for a lot more approvals. Otherwise this forgiveness would presumably have happened under any president, and will after Joe is gone.

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