If you have qualifying federal studentloans, you may be able to reduce your payments, or have your loansforgiven, through Obamastudentloan reform. In 2010, President Obama signed into law the Health Care and Education Reconciliation Act.. I have heard talk of a new plan by the Obama administration to forgivestudentloan debt.. The Obama administration plans to forgivestudentloans for permanently disabled Americans starting as early as next week by notifying eligible studentloan holders that they can potentially have their studentloansforgiven entirely by the Federal government.. Obama is forgiving nearly 400,000 people's studentloans.. Wondering how you can qualify for Obamastudentloan forgiveness? Unfortunately, it's not possible. Here's how to get real studentloan forgiveness that isn't part of this scam.. Treat claims about Obamaforgivingstudentloan debt with skepticism. Companies promising to help with debt repayment and relief use the phrase to lure in hopeful borrowers.. In a major announcement this week, Obamaforgavestudentloan debt burdens for those individuals living with permanent disabilities. Learn the truth about the ObamaStudentLoan Forgiveness Program, how to spot other studentloan forgiveness scams, and what legitimate options do exist.. The Obama administration is directing several federal agencies, including the Department of Education and the Social Security Administration, to forgive $7.7 billion of studentloans to around 400,000 people with permanent disabilities.. New legislation called the StudentLoan Tax Relief Act would change this. If passed, the act would make tax-exempt any forgivenstudentloan and would apply no matter what. ObamaStudentLoan Forgiveness. Studentloans are one of the biggest causes of debt in the United States.. President Obama today signed into law the final piece of the health care puzzle, which mandates sweeping changes in the way the nation provides health care and makes the federal government the primary distributor of studentloans.. Will 2015 be a Banner Year for Obama's Plans To ForgiveStudentLoan Debt? President Obama has shown continued interest in student debt relief throughout his term in office. The landscape of studentloan repayment is changing as we speak.. There was legislation passed under President Obama in 2014 which aims to cap the amount studentloan borrowers will have to pay out each month for their federal or private studentloans. Rightly or wrongly, it is often referred to on the web as Obamastudentloan forgiveness.. The ObamaStudentLoan Forgiveness Program was created to provide relief for the American people. Especially those suffering from high monthly payments and outrageous loan amounts left over after attending school.. President Barack Obama announced some big news this week that stands to help many studentloan borrowers .. The Obama administration is working to forgive the studentloan debt for 400,000 Americans with permanent disabilities.. Studentloans have changed now that new legislation has come into being. Lets call them Obamastudentloans as he is the one who put through the legislation and then Congress and the House passed it.. The Obama administration is calling on Congress to make it easier for some studentloan borrowers to erase. On Monday, the Obama administration released new guidelines for the forgiveness of specific studentloans. This program would forgivestudentloan debt incurred by those who can prove they were the victims of scams perpetrated by.. The Obama administration on Monday began sending letters to nearly 400,000 people with permanent disabilities, in an attempt to help them through the process of discharging their studentloans.. Origins: On 5 June 2014, the Empire News web site published an article positing that President Obama had signed a bill forgiving all studentloans taken out within the last ten years (and any such loans to be taken out by current students in the future). President Obama signed the Health Care and Education Reconciliation Act Tuesday, whose studentloan reform will mean big savings for the US government, but not much change for students until 2014.. Ordinarily, studentloans cannot be discharged in bankruptcy or forgiven without spending at least a decade on a federal repayment plan.. President Barack Obama's administration plans to forgive $7.7 billion in federal studentloan debt for nearly 400,000 permanently disabled people, the Washington Post reported Wednesday.. This petition had 64 supporters. U.S. Government, President Obama: ForgiveStudentLoans. Share on Facebook.. The Obama administration plans to forgive $7.7 billion in federal studentloans held by nearly 400,000 permanently disabled Americans.. .Act of 1993, although in 1994 the 104th Congress passed legislation to prevent the switch to 100% direct. Studentloansforgiven under Public StudentLoan Forgiveness or Teacher Loan Cancellation plans are not taxable. And if President Obama gets his way, the income tax burden would be eliminated for all studentloan borrowers whose debts are forgiven.. In a recent settlement Kaplan must forgivestudentloans and provide student refunds.. The studentloans being forgiven by the Obama administration add up to about $7.7 billion. The plan to forgive these loans is part of an existing policy that already allows permanently disabled people to apply to discharge their federal studentloans, but now the U.S.. The Obama Administration has announced plans to discharge as much as $3.6 billion in studentloans taken out by Corinthian College students.. Nearly 400,000 disabled Americans who owe student debt will be given relief under a new plan by the Obama administration. The announcement was made by the Department of Education (ED) on April 12, as part of a new process to assist people with disabilities who have federal studentloan debt and.. President Obama slammed congressional Republicans Monday to for refusing to close tax loopholes for the wealthy as a way to pay for initiatives like lowering studentloan interest rates and increasing the minimum wage.. In the path towards lessening the burden of student debt or the studentloan on young people across the country, the Obama administration has made some advanced strides. From forgiving debt for those who were scammed by defrauded.. The Obama administration plans to forgive $7.7 billion in federal studentloans held by nearly 400,000 permanently disabled Americans. By law, anyone with a severe disability is eligible to have the government discharge their federal studentloans.. Are you interested in having your studentloan debt forgiven? If you answered yes to any of these questions, Lower StudentLoan Solutions document preparation services may be the solution!. Other states have additional studentloan forgiveness programs that allow you to have studentloansforgiven in additional situations.. The new version of the income-based federal studentloan repayment program will cap monthly payments to 10 percent of discretionary income, and have their loansforgiven after 20 years. Do I Qualify for the ObamaStudentLoan Forgiveness Program?. If borrowers make regular payments on the PAYE program, the government will forgive any unpaid portion of their loans after 20 years.. Are you interested in having your studentloan debt forgiven? If you answered yes to any of these questions, Student Debt Consolidation document preparation services may be the solution!. April 12, 2016 9:20pm (UTC). President Obama's Department of Education is set to take on the huge task of identifying and forgiving the federal studentloan debt of 400,000 permanently disabled Americans.. President Obama signed a new federal bill this week releasing any student who has accrued outstanding debt because of the high interest rates and. Any remaining balance on your studentloans is forgiven after 25 years.. In the Oval Office ahead of his visit to Atlanta, Obama signed a presidential memorandum with policy tweaks that don't require new legislation from Congress.. Best Answer: While completely forgivingstudentloan debt might be going a little far (and wouldn't be fair to to those that have been paying them or have paid them off), studentloans are one of the few types of debt. Recently, the Department of Education (on behalf of President Obama) made an announcement that lightened the financial burden on hundreds of. Studentloan forgiveness programs, eligibility requirements and how to apply for them. A must-read guide to getting your studentloansforgiven.. You may have heard of the ObamaStudentLoan Forgiveness program, but how does it affect your studentloans? Get on the path to debt freedom today.. McDermott introduced legislation last year to address the problem, either by allowing borrowers to refinance studentloans at lower rates so that. The Public Service Loan Forgiveness program is a federal program that forgives federal studentloans for borrowers who are employed full-time (more than 30 hours per week) in an eligible federal, state or local public service job or 501(c)(3) non-profit job who make 120 eligible.. The Republican studentloan plan is a piece of legislation that would prevent the interest rate from doubling.. The GAO expects $108 billion to be forgiven for loans disbursed between 1995 and 2017. Related: Trump's studentloan payment plan looks a lot like. Under current law, the amount forgiven generally represents taxable income for income tax purposes in the year it is written off. There are, however, a few exceptions. Generally, studentloan forgiveness is excluded from income if the forgiveness is contingent upon the student working for a specific number.. Get signed-up now! Time is running out to enroll into and take advantage of the ObamaStudentLoan Forgiveness Act.. Question: If Washington can forgiveloans for bad schools, why leave out students who went to good schools?. Dubbing it a "no-brainer," Obama also threw his support behind legislation to let some of those same borrowers refinance their studentloans at lower rates, in a move the administration.