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Old 10-12-2022, 03:54 PM
 
Location: U.S.
6,647 posts, read 6,863,121 times
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Bill was just signed by Biden that split a family combined student loan. If you combined student loans into one family back about 20 years ago, you can elect to separate them again. You can no longer combine student loans into one family because it was a horrible idea and stopped around 2010.

So if you have a dead beat ex-spouse who isn’t paying the family of student loan debt, now you can thankfully separate again. This only affected about 1,000 people but those with abusive, non paying, worthless ex spouses, now you can seek loan separation AND then possibly loan forgiveness. Now we’re talking public service loan forgiveness where you were in public service for a decade and get partial forgiveness. NOT the Biden free for all give away. Two separate programs.

Here is the link to the newly signed bill. Freedom at last!

https://www.wsls.com/news/local/2022...idation-loans/
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Old 10-15-2022, 05:12 AM
 
Location: NJ
22,496 posts, read 30,057,568 times
Reputation: 27318
Quote:
Originally Posted by johnsonkk View Post
Bill was just signed by Biden that split a family combined student loan. If you combined student loans into one family back about 20 years ago, you can elect to separate them again. You can no longer combine student loans into one family because it was a horrible idea and stopped around 2010.

So if you have a dead beat ex-spouse who isn’t paying the family of student loan debt, now you can thankfully separate again. This only affected about 1,000 people but those with abusive, non paying, worthless ex spouses, now you can seek loan separation AND then possibly loan forgiveness. Now we’re talking public service loan forgiveness where you were in public service for a decade and get partial forgiveness. NOT the Biden free for all give away. Two separate programs.

Here is the link to the newly signed bill. Freedom at last!

https://www.wsls.com/news/local/2022...idation-loans/
I shared it in the college section, it said they can apply for forgiveness and for public service loan forgiveness. It may be a one time thing with splitting so they need to get the app in ASAP

Below is a ink to my thread and it quoted. People should see the article I linked.



Thread link - Borrowers who combined student loan balances with spouse can separate for student loan forgiveness



Quote:
Originally Posted by Roselvr View Post
Spread the news if you know of anyone who combined their loan with a spouse or a now ex-spouse. They should get their applications in ASAP before the mad rush. I'm surprised they also passed this too.

Once the paperwork is done, they can apply for student loan forgiveness.



Congress just made it possible for student-loan borrowers who combined their balances with a spouse to separate their debt and receive federal loan forgiveness

Quote:
Congress shuttered the spousal joint consolidation loan program in 2006, which allowed married couples to combine their student debt balances with the idea that a single payment, with one interest rate, would be a more affordable repayment option. But once that program ended, those borrowers were stuck with the combined balances because law prohibited them from being separated, effectively blocking them from consolidating their debt into federal direct loans and taking advantage of federal relief, like the Public Service Loan Forgiveness (PSLF) program and blanket loan forgiveness.

Over a decade later, those borrowers are finally seeing relief. On Wednesday, the House passed the Joint Consolidation Loan Separation Act of 2021, which allows those with spousal loans to separate their balances. Sponsored by Sen. Mark Warner and Rep. David Price, this legislation will ensure the borrowers no longer have to keep paying off debt with a former partner that was abusive and will ensure that the borrowers that are still together can each apply for federal loan forgiveness.

"They will be immediately able to apply for the severance of their loan,"
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