NEW YORK (AP) — Karin Engstrom thought she’d be paying off her federal student loans for the rest of her life. It also credits borrowers for periods before the pandemic when they were allowed to pause or reduce payments due to financial hardships. “Info: Your student loans have been forgiven,” the letter read. Borrowers who have made 20 or 25 years of qualifying payments (depending on the repayment plan) qualify, if they hold direct loans or Federal Family Education Loans with the Education Department, including borrowers with Parent PLUS loans. The official Federal Student Aid guide to the Income Driven Repayment adjustment is a good resource for updates.

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Persons: — Karin Engstrom, she’d, Biden, It's, servicers, Engstrom didn't, Harris, ” Engstrom, ” Patricia Vener, Saavedra, “, ”, who's, “ He's, Vener, Charles Schwab Organizations: Department of Education, Federal, Aid, Harris Administration, Edfinancial Services, WHO, Family, Education Department, Parent, WHAT, IF, of Education, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: Hamden , Connecticut