"The student loan forgiveness deadline is quickly approaching as students only have until June 30 to consolidate their debts," Business Insider reports.

..."While many will benefit from student loan forgiveness and consolidating their debts, there can be some disadvantages. That includes the length of time it takes to repay the loan increasing after consolidation. This could result in the person having to pay more in interest over time.

Karen McCarthy, vice president of public policy and federal relations at the National Association of Student Financial Aid Administrators, said this about the student loan forgiveness to Nerdwallet.

'It does take a little bit of time for the consolidation to go through. Make sure that you understand that it will take some time, because the Department of Ed is literally paying off your previous loans.'"

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 6/21/2024