CAMBRIDGE, Mass.–President Biden’s plan to erase $10,000 to $20,000 for certain federal student loan borrowers has left many “perplexed and filled with additional questions,” according to Harvard University Employees CU, which has worked to offer a solution.
The credit union invited Betsy Mayotte, president and founder of The Institute of Student Loan Advisors (TISLA), to host a webinar titled, “Understanding President Biden’s Student Loan Debt Relief Program.”
More than 600 registered and more 300 participated in the webinar live via Zoom.
“The Department of Education’s debt relief plan will benefit millions of borrowers, including those that have previously defaulted, or are working toward public service loan forgiveness,” said Tanya Tanaro, VP-of education and consumer lending at HUECU. “The issue is the system is overly complicated. If you’re not well-versed in student loans, the eligibility requirements are difficult to interpret, and the process to obtain benefits can feel like a barrier.
‘An Obligation’
“We at HUECU care about the financial health of our members, and have an obligation to provide sound guidance and information to help them successfully manage and repay their debt, whether or not they have student loans with us.”
The webinar can be viewed here: https://youtu.be/h0_SgT0ceZQ.
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