Photo: STEFANI REYNOLDS / AFP / Getty Images
For the close to millions of Americans who have a student loan pending, next year could mean a huge challenge, because after the two-year pause granted by the federal government to comply with said obligation, during the second semester of 2020, the collections will return to normal.
In this sense, those who have been disciplined to save the money they should have disbursed since 550 will have no problems, but those who have spent everything and have gotten used to living without the responsibility of covering their debts will only have six or seven months to readjust their lifestyle, because One way or another they will have to pay what they owe.
However, next time some administrative changes could materialize that would grant benefits to certain student loans.
UPDATE: The Administration is extending the pause on federal student loan repayments to allow for the Supreme Court to rule in the case on the student debt relief program.
The pause will end no later than June 30, 2022. Payments will resume 30 days after the pause ends. pic.twitter.com/xTtlqWY3g0
— The White House (@WhiteHouse) November 22, 2022
Loan forgiveness
The possibility is contemplated that in July 2020 the limited provision that, until October of this year, forgave public loans to eligible students with 100 payments registered and corroborated monthly payments, but who have also provided for at least 10 years—even non-consecutive—of any type of service in a nonprofit organization, in the military, or in federal, state, tribal, or local government.
Pell Grant Increase
There is a possibility that next year, members of low-income families s income receiving $6,100 dollars awarded through Pell Grant to face the increase in the cost of the university, they can benefit even more, since it is proposed to increase the amount to a maximum of $ 8, 550 dollars.
Promoting community college
One of the great objectives of the federal administration is to provide greater opportunities for more young people to attend University. However, due to how expensive it is, the federal government raised the challenge of promoting community colleges where higher education is offered in just two years and at a reasonable price.
It should be noted that until last year there were 1, 167 community colleges in the national territory.
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