- $10k cancellation for those making less than $125k annually
- $20k cancellation for Pell Grant recipients
- Student loan pause extended until December 31st
- 5% of monthly income cap on student loan payment (optional?)
Honestly pretty sick for me and my family. Wipes out my debt, my mom's debt, and most of my sister's. Wish we could've gotten more, since there's no good reason not to go to at least $50k, but from a selfish PoV it's hard to complain in the moment
It would effect your credit score. I could maybe get a mortgage if they wiped out all of my student loans
During the pause it does not affect your credit score. I haven't been missing payments, I haven't had payments to pay.
All the payments I’ve missed for years already effected it
Funny thing, this will probably actually hurt my already shitty credit. The average age of accounts will drop significantly when my student loans are gone.
In totalitarian China, having less debt hurts your social credit score…