Here’s everything you need to know if you’d like to have up to $20,000 in student debt forgiven.
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There is almost $1.75 trillion — that’s trillion with a “T” — in outstanding student loan debt in the United States.
People of all ages and walks of life are impacted by student loan debt. In fact, 22% of that debt is owed by people age 50 and older.
Well, no matter your age, student loan forgiveness is now on the table. The Biden administration recently announced a program to forgive up to $20,000 in debt for borrowers.
In this podcast, we discuss who qualifies for the forgiveness program and what you need to do to claim your slice of the pie.
As usual, host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. Today’s special guest is Robert Farrington, a student loan expert and the founder of The College Investor.
Remember, even though we sometimes talk about money and specific investments on this show, don’t take them as recommendations because they’re not. Before investing in anything or making any money moves, do your research and make your own decisions.
You can watch this episode below, or if you’d prefer to listen, you can do that with the player at the top of this article or download the episode wherever you get your podcasts:
Don’t forget to check out our podcast page for more episodes designed to help you make the most of your money and our YouTube page for more videos.
It’s not just kids. Baby boomers have more student loan debt than you might think. No matter your age, you might be eligible for student loan forgiveness due to the recent move by the Biden administration.
If you want to get rid of some of that debt, your first step is understanding what’s in the student loan forgiveness package. Check out the fact sheet offered by the Biden Administration. Here’s the gist of it:
And to learn more about student loans, check out these resources:
If you’re looking for forgiveness, our guest has the information, step by step. Some resources mentioned and steps to take include:
Robert Farrington is the founder of The College Investor. He’s one of America’s top student loan debt experts and regularly talks about everything from paying for college to navigating student loan repayment.
Robert is also the editor-in-chief of Cult of Money, a website dedicated to personal finance for the crypto-curious.
A podcast is basically a radio show you can listen to anywhere and anytime, either by downloading it to your smartphone, or by listening online. They’re awesome for learning stuff and being entertained when you’re in the car, doing chores, jogging or riding your bicycle.
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Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.
Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.
Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.
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