Seems sure.  I simply learn a reasonably cool story within the New Yorker a few 91 yr previous woman, completely wholesome, obtained a full forgiveness beneath a “compromise and settlement authority” supplied for beneath the Greater Schooling Act of 1965.  Though it’s a final ditch effort as there are a lot of different methods to acquire forgiveness now.

There may be a neater means.  The IDR Waiver program will enable for somebody like this to consolidate their older federal loans to Direct Loans (supplied that is executed earlier than Might 1, 2023), and after 20 years of reimbursement all undergrad loans could be forgiven.  25 years for grad loans.  I imagine this woman would have certified for that as properly – though I don’t have entry to her mortgage historical past to know for sure.

However when you miss that Might 1 deadline, or the IDR Waiver, TPD, BDTR or PSLF don’t suit your circumstances for some motive, then it is a means out – used principally when the Division of Schooling believes it might be extra pricey to gather the mortgage, or when it can’t find the unique promissory observe.

Maybe this may be good for people residing in a foreign country.  For a very long time.  Presently, ED doesn’t chase them right down to my information.  It could clear the specter of litigation by the Division of Justice.  It could additionally finish a nagging menace of pulling somebody’s U.S. passport – this doesn’t occur for defaulted federal pupil mortgage debt now, however the IRS retains sticking it’s hand out because it at present is required to inform the State Division for unpaid tax debt.  I’m wondering if there will probably be a time the place ED does the identical, and it leads to a U.S. passport loss, stopping exit from the States.

Don’t ignore pupil mortgage debt.  It will possibly have far reaching outcomes – but when steps are taken now throughout this Administration, maybe this debt might be cleared and permit you a contemporary begin!