‘Hope restored’: What loan relief means to these Houston-area residents with student debt KPRC2 HTX Studentdebt Hounews TexasNews
How much does your household earn annually?How much do you expect will be wiped out by the student loan forgiveness plan?“I still have not completed my degree because they are telling me I met my max. It’s awful. I have attended online because I’m a mother of five working full time, so I do not have the availability to go to a campus. However, online is double the cost if not triple of local colleges. So my financial aid funds are exhausted and now I have this huge bill and still no degree.
“When buying our house, we had the money saved, our credit was perfect, we had done absolutely everything we needed to do, but because of our student loans, our debt-to-income ratio was too high to qualify for what our income level should have qualified us for.”“Not having student loans hanging over us would mean a perfect credit score for me. It is the only thing I still struggle with and preventing me from getting good APR rates that effect my monthly payments on EVERYTHING.
“It’s $1,300 dollars a month. The government gets their cut before groceries, gas, rent, insurance, and other living expenses. It’s tough.”“It won’t affect me. The government has already charged me $30,000 in finance charges on the loan. I won’t see any benefit from the cancellation amount and I don’t make enough money as a nurse practitioner to ever be able to pay this off in my lifetime. I will die with student loans.
“I need a new vehicle soon, but I’ve hesitated because I will have to begin paying my student loans again. I really can’t pay a car note and student loans concurrently. I will most likely have to keep my 8-year-old vehicle in order to afford my monthly payment for my student loans.”“As a Pell Grant recipient, I potentially could cancel $20,000 from my student loan debt. However, that’s only a 15% reduction.
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