They will only pardon anything that exceeds the initial balance, as far as I can tell. My current balance of $90,000 is, I believe, around $5,000 more than the initial amount of my loan. It is true that I should be thankful for everything, but dang, paying so much and never seeing a return on investment is such a hassle.
I totally get where you’re coming from. I’ve been chipping away at my student loans for what feels like forever, and it’s frustrating to see the balance barely budge despite paying consistently. I started with around $85,000 in debt, and even though I’ve made a decent amount of payments over the years, interest keeps piling up, leaving me with a balance close to what I originally borrowed. The possibility of having only the excess forgiven feels bittersweet, since it’s great to get any relief, but it’s tough knowing I’ve put in so much effort with little visible progress. Balancing gratitude with the reality of the financial strain is challenging.
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Loan balance slightly above initial amount. Potential for little benefit from pardon. Explore refinancing, consolidation, or dispute charges.
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