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Student Loans in 2021: Live Q&A

wed. 12.21.2020 @12pm cst

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Quick Answers

Is Pres. Biden going to forgive student loans?

Who knows. Right now, it appears he may be willing to forgive up to $10 thousand in federal student loans held by the Department of Education for borrowers with household income below $125 thousand annually.

When will I have to start making monthly payments again?

If your federal student loan payments were suspended during the pandemic, you'll likely have to start making payments again in February 2021.

Do I have time to stop a garnishment for student loans from starting?

Depending on your situation, you may still have time to enter into the loan rehabilitation program to stop the garnishment from starting. But you'll need to move ASAP. Email me at tate@tateesq.com for help.

Are lenders accepting lower student loan settlements because of COVID-19?

I have not seen that student loan lenders have been willing to accept lower settlement offers because of COVID-19. So far, settlements have been about the same as they were pre-pandemic.