The housing agency s move to wipe out student debt comes during a national debate over the economic drag that student debt creates and inclusion of student debt forgiveness in the federal stimulus package.
Aspiring home buyers who meet certain income limits can get up to $40,000 in student loan debt wiped out, changing their debt-to-income ratio to something that makes obtaining a mortgage easier. The buyers have to meet certain income standards in Cook County, the individual income limit is about $109,000 and agree to live in the property they buy for three years to get the student loan debt forgiven.
“It’s not about giving people handouts,” Faust said. “It’s about helping these people put down roots in their communities, roots in Illinois.” She noted that college costs and the concomitant level of student borrowing have grown far faster than salaries in recent decades.
Gov. J.B. Pritzker’s latest executive order extending the eviction moratorium for residential tenants adds a new legal protection for tenants who are unable to pay rent due to the pandemic.
Governor s Eviction Moratorium Extension Expands Tenant Protections northernpublicradio.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from northernpublicradio.org Daily Mail and Mail on Sunday newspapers.
Eviction moratorium expands renter protection, but has some landlords worried myjournalcourier.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from myjournalcourier.com Daily Mail and Mail on Sunday newspapers.