You’ve been paying on your student loan for years and years and now you get an email saying you have Automatic Loan Forgiveness? It’s happening and it’s for real thanks to the one-time income-driven repayment plan adjustment.
“Everyone needs to sit back and put their patience pants on. If you’re someone who is going to be in this first wave, that was announced today, you probably already have an email in your inbox. If you don’t have an email, don’t freak out, don’t call your loan servicer, and don’t think there is something wrong. The department is going to do this in batches,” said Betsy Mayotte, President of The Institute of Student Loan Advisors.