Hello and Good Afternoon Everyone,
I am wondering how pre-existing student loans are handled under the new Obama laws. The reason I ask is because I have heard that after a certain number of years of owing student loans, they are automatically forgiven under the new Obama laws. I have also heard that the default status, if exist, must be removed first before being qualified for this benefit under the new Obama regulations. At any rate, if someone could provide some insights into this matter, it will be greatly appreciated.
Thank you so much.