A vacation might finally be on the horizon for Tammy Stinson.
That’s because after nearly 25 years of payments, Stinson’s $70,000 student-loan balance has finally been wiped out.
“I feel like I might be free now,” Stinson, 52, told Business Insider. “I can actually live my life and hopefully retire before I’m 90.”
Stinson’s student-loan forgiveness is a result of meeting her qualifying payments on an income-based repayment plan. IBR plans offer borrowers monthly payments based on their income, with forgiveness after 20 or 25 years, depending on when they first took out the loan.
President Donald Trump’s Department of Education paused IBR processing over the summer, citing ongoing litigation regarding repayment…