WELLretire Blog
Student Loan Relief 2022: What we know
President Biden’s student loan relief program is a hot topic with our employee groups these days. Where borrowers stand with repayment of their loans and potential forgiveness has been a constantly moving target for the last year or so. And when we finally got specifics on how it might work and who it would help, there’s now a risk of the entire program being delayed or scrapped if new legal challenges to it are successful.
We are not student loan experts but are happy to share our research on how the program works. Here's a quick primer of what we’ve learned assuming things progress as the Biden-Harris administration has laid out.
Due-Day for Student Loans: 8/31/22
Out of the many relief measures that passed in the 2020 COVID-19 emergency legislation, perhaps of most help to younger adults was the forbearance on student loans. The payment freeze ends January 31, 2022. Read more to find out how you can support your employees in navigating student loan debt.