There's an opportunity to qualify for student loan forgiveness, but borrowers need to act by April 30, the Consumer Financial Protection Bureau says.There's a student loan forgiveness opportunity available to many borrowers, but they'll have to act by April 30 to qualify, the Consumer Financial Protection Bureauby the end of this month — which will leave them with one, larger loan — could get their debt canceled immediately or sooner than they would have otherwise.
One complicating factor for borrowers in these programs is that they often have multiple loans, taken out at different times, said higher education expert Mark Kantrowitz.What car shoppers need to know Usually, a student loan consolidation restarts a borrowers' forgiveness timeline, making it a terrible move for those working toward cancellation. But the Biden administration has changed that program detail through April 30.All federal student loans are eligible for consolidation, including Federal Family Education Loans, Parent Plus loans and Perkins Loans, Kantrowitz said.
Some borrowers who took out small amounts may even be eligible for cancellation after as few as 10 years' worth of payments, if they enroll in the new income-driven repayment option, known as the
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