Californians have until June 30 to get help with student loans through faster forgiveness or lower payments for loans taken before 2010.
California Helps with Student Loan Relief
Until June 30, over 300,000 Californians can get help with their student loans. The U.S. Department of Education is offering a one-time chance for faster loan forgiveness or lower payments for loans taken before 2010. This is to fix past mistakes and give borrowers the help they deserve, according to the report of KQED.
California is setting up a network of nonprofit groups to guide borrowers through the loan process. With $7 million in funding, these groups will offer personalized advice on loan options and repayment plans.
Celina Damian, California’s Student Loan Servicing Ombudsperson, says borrowers should consolidate their loans before June 30. Many borrowers especially seniors are unaware of their options. Damian has helped many apply for relief.
(photo: LAist)
California’s Student Loan Relief
In 2010, the government changed loan programs, encouraging borrowers to consolidate before June 30 for better options, including loan forgiveness after 10 years. Consolidating loans simplifies repayment and opens up forgiveness plans like the SAVE plan based on income. Californians should act now to ease student loan burdens and secure a better financial future.
