Posted on 02/16/2024 11:36:08 AM PST by frogjerk
The U.S. Department of Education has been reviewing the accounts of borrowers who have been in repayment for decades to see if they are eligible for forgiveness.
Marlon Fox, a chiropractor in North Charleston, South Carolina, is one person to benefit.
In August, he learned that his more than $100,000 student debt balance had been canceled. He’d carried the debt for 35 years.
Shortly after Fox heard that his student loans were forgiven, he received a payment from the government for $56,801.
A $60,000 debt that only grew In the 1980s,Fox borrowed roughly $60,000 to attend the Palmer College of Chiropractic. Shortly after he graduated, his monthly student loan bill was around $1,000. Early in his career and just starting a family, he struggled to come up with that sum.
... After his father had a stroke, Fox became his main caregiver and was forced to pick up his expenses and debts. Things got even harder.
... At times, Fox enrolled in forbearances, which caused his balance to mushroom. This option for struggling borrowers can keep loans on hold for up to three years, but interest continues accruing. The interest rate on his federal student loans was over 8%.
...
Fox lived frugally and made payments on his student debt whenever he could. ...
Since 1988, Marlon Fox has been paying down his federal student debt.
He didn’t see an end in sight. Then, on Aug. 25, 2023, an email popped up in his inbox with the subject line: “Your student loans have been forgiven!”
... His $119,500 balance was reset to zero.
... “I couldn’t believe it,” said Fox, 65, a chiropractor in North Charleston, South Carolina. “I’d been battling this for so long. I’ve been on cloud nine ever since.”
(Excerpt) Read more at cnbc.com ...
Deadbeat.
later
Bend over America! Jo Jo is coming after you!
Maybe he could start seeing low income people for free. Veterans get lifetime adjustments for free.
Of course he also must allow the illegals
Forgiveness??
Defaulting on a loan is forgiveness?
Chiropractors are the number one occupation that defaults on their student loans. They are not medical doctors, and most have no medical training.
Damn, I got that one too, and deleted it.
The Dept of Edumacation needs to be abolished. This is overstepping their bounds. Only Congress can ask for and approve OUR TAX DOLLARS BE USED. And then onto the EPA, NEA, ETC. Think of the Billions we could save getting rid of these agencies?
Lucky me, who worked full time and had no student loans, gets to pay for a quack degree in quackery.
I already have this tattoo.
But, apparently, only stray cats can read it.
Signed,
Laz, owner of four stray cats over the years.
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