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After 35 years, he got $119,500 in student debt forgiven. Then the government refunded him $56,801
CNBC ^ | 2/16/24 | Annie Nova

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 ...


TOPICS: Front Page News; News/Current Events; Politics/Elections
KEYWORDS: biden; scam; studentloans; votebuying
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To: vikingd00d
Renters are most exposed to climate hazards in these two states
 
 
WHAT???

21 posted on 02/16/2024 1:27:28 PM PST by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: frogjerk

Deadbeat.


22 posted on 02/16/2024 1:52:42 PM PST by Albion Wilde (Either ‘the Deep State destroys America, or we destroy the Deep State.’ --Donald Trump)
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To: frogjerk

later


23 posted on 02/16/2024 1:58:08 PM PST by Gay State Conservative (Proudly Clinging To My Guns And My Religion)
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To: frogjerk

Bend over America! Jo Jo is coming after you!


24 posted on 02/16/2024 2:09:34 PM PST by FlingWingFlyer (I don't think the Founding Fathers intended to have a government that pushes Americans around.)
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To: bort

Maybe he could start seeing low income people for free. Veterans get lifetime adjustments for free.
Of course he also must allow the illegals


25 posted on 02/16/2024 3:31:32 PM PST by Keyhopper (Indians had bad immigration laws)
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To: 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."

Forgiveness??

Defaulting on a loan is forgiveness?

26 posted on 02/16/2024 4:20:39 PM PST by MV=PY (The Magic Question: Who's paying for it?)
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To: frogjerk

Chiropractors are the number one occupation that defaults on their student loans. They are not medical doctors, and most have no medical training.


27 posted on 02/17/2024 5:06:34 AM PST by BubbaBasher ("Liberty will not long survive the total extinction of morals" - Sam Adams)
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To: frogjerk
Then, on Aug. 25, 2023, an email popped up in his inbox with the subject line: “Your student loans have been forgiven!”

Damn, I got that one too, and deleted it.

28 posted on 02/17/2024 6:08:31 AM PST by omni-scientist
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To: frogjerk

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?


29 posted on 02/17/2024 6:18:18 AM PST by alaskamomma
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To: frogjerk

Lucky me, who worked full time and had no student loans, gets to pay for a quack degree in quackery.


30 posted on 02/17/2024 11:18:19 AM PST by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
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To: ProtectOurFreedom

I already have this tattoo.

But, apparently, only stray cats can read it.

Signed,

Laz, owner of four stray cats over the years.

31 posted on 02/17/2024 11:21:56 AM PST by Lazamataz (Laz 2005: "First, we beat the Soviet Union. Then we became them.")
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