The country's roughly 40 million federal student loan borrowers should brace for change when President Joe Biden exits office toward the end of the month.
The article from MSN discusses the implications of a potential change in presidential administration on student loan policies. It advises student loan borrowers to take proactive steps before any such change occurs. Key points include understanding the current status of student loan forgiveness programs, like the Biden administration's SAVE plan, which could be altered or eliminated by a new administration. Borrowers are encouraged to review their loan terms, consider refinancing options, and possibly accelerate their payments if they anticipate less favorable terms in the future. The article also suggests staying informed about legislative changes, preparing for potential shifts in loan servicing, and possibly engaging with advocacy groups to protect their interests. It emphasizes the importance of financial planning and awareness in light of political uncertainty surrounding student loan policies.
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