We are seeing forgiveness every week, more likely every day, now, but many are still waiting…
Interestingly, the huge spending bill being discussed by Congress right now does not include anything additional to Federal Student Aid.
What does this mean? Well, the FSA has to modernize its National Student Loan Database System to make it far more transparent than it currently is, provide a viewable tracking IDR payment mechanism, switch all servicer websites to its own government website, restart payments in August-ish, introduce a new IDR program in July, process the PSLF Waiver, implement and process the IDR Waiver, create and process a Joint Spousal Consolidation application to separate the loans, possibly cancel 10k or 20k pending the result of the Supreme Court, plus grant the discharges for all Borrower Defense to Repayment applications along with refunds for any monies paid to ED for over 100 schools approved by the Sweet v. Cardano class settlement. Wow.
Are we going to see all this done? In one year? Who will get the blame when all of this fails to materialize?
On a side note, I’m betting the pause will be continued once again –