00:00The Department of Education has paused student loan forgiveness through the Income-Based
00:04Repayment, or IBR, plan. This freeze impacts borrowers who've made decades of payments
00:11and expected their loans to be forgiven this year. IBR is an income-driven plan that sets
00:17monthly payments based on your salary and family size, offering forgiveness after 20 or 25 years.
00:23Officials say the halt is temporary for system updates, and IBR remains the only forgiveness
00:30option not blocked by the courts. However, thousands who've qualified for forgiveness
00:36are in limbo, with no timeline for when discharges will resume. Experts suggest borrowers keep making
00:43payments or request forbearance, though interest may accrue during this pause.
00:48Stay updated for the latest student loan forgiveness news,
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