If you have multiple student loans, you can combine them until April 30th. This will allow you to receive credit for all the time you've been paying on the loan you've had the longest towards loan forgiveness. This is beneficial because it can expedite the loan forgiveness process, especially for those who have been paying for an extended period. You can apply for consolidation at StudentAid.gov or with your loan servicer.
President Biden's new student loan relief plan aims to assist millions of borrowers facing excessive interest rates, with potential benefits for up to 25 million people. The plan includes "canceling runaway interest" on federal student loans, reducing or eliminating accrued interest for low- and middle-income borrowers enrolled in income-driven repayment plans. This provision is intended to lighten the financial burden and allow borrowers to pay off their loans more easily.
