Student Loan Forgiveness May Wither in the Courts, Says This Expert. What You Can Do Now

Student loan borrowers have been left in limbo -- again -- after President Donald Trump signed an executive order last week to begin dismantling the federal Department of Education. And options may be dwindling for those not already on the path to forgiveness. Millions of borrowers on the SAVE plans have had their payments on pause amid legal challenges but are expected to resume by the end of this year. Applications for income-driven repayment (IDR) plans, which have been touted as an alternative option for SAVE borrowers, were made available again today on the federal student aid website. Betsy Mayotte, president of the nonprofit Institute of Student Loan Advisors, worries that rulings against the Saving for a Valuable Education plan also jeopardize the forgiveness component for income-contingent repayment (ICR) and Pay As You Earn (PAYE) plans. "I'm really concerned if the courts end up saying that the 20- to 25-year forgiveness under those two plans is no longer a thing," she sa ... Read full article.