There are several proposals being discussed in Washington, D.C.
But that hasn’t stopped the issue from becoming a popular question for college families.of up to $10,000 per borrower, said Deva Panambur, a fee-only planner with Sarsi, LLC in West New York.of the forgiveness program, he said.
Aside from potential loan forgiveness under President Biden’s plan, Parent PLUS loans are eligible for relief through an under which your monthly payments could be lowered, and the duration of loan extended, depending on your income, Panambur said.Parent PLUS loans are also eligible for forgiveness under theprogram if the borrower works for an eligible non-profit organization or for the Government, he said.
“Another way in which a Parent Plus loan could be discharged is through death of the borrower or the child or ‘total and permanent disability’ of the borrower,” Panambur said. “Parent PLUS loans could also be discharged if the school closes before the child graduates, but that is not applicable in your case.”
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