Student loan payments are notoriously difficult to pay off. In fact, on average it takes borrowers 20 years to pay off their student loans, according to a 2021 report from the Education Data Initiative.
And while the Biden-Harris student loan forgiveness plan was struck down by the Supreme Court in June 2023, borrowers with an outstanding balance may still be able to turn to one other option to reduce their balance (or even wipe it altogether). Winning a grant means getting financial aid you don’t have to pay back (unlike a loan). Just keep in mind that many of these grants require you to belong to a certain profession and perform specific services to qualify, and even then there’s no guarantee you’ll be awarded the financial aid.
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Read the full article at: https://www.cnbc.com/select/how-to-get-grant-to-help-pay-off-student-loan-debt/