Editor's note: This article was written by a Townsquare Media Northern New England contributor and may contain the individual's views, opinions or personal experiences.

Student Loan Forgiveness

After weeks and months of rumors that recent graduates who were dishing out the pennies they're making as post-graduate adults may get some relief from their student loans, the trigger was finally pulled yesterday by President Biden. According to our friends at Seacoast Current, graduates who make a salary under $125,000 and did not receive a Pell Grant could receive up to $10,000.

In addition, those graduates that make a salary under $125,000 and did receive a Pell Grant could have up to $20,000 of their student loan debt completely wiped out. Clearly a massive help to recent graduates who are dealing with the fact that something as simple as a head of lettuce costs about the next three generations of your family these days.

Joshua Hoehne
Joshua Hoehne

Reactions from more aged graduates

Naturally, not everyone was excited about the news of student loan forgiveness being kicked into effect. People who graduated a while back and have already fully paid off their student loans clapped back a bit, asking where their help was throughout the years when they struggled with low salaries and new expenses, including seemingly endless student loans.

However, in between all of the clap back from the older generations who have already paid off their student loan debt with no help, came one great idea from a former co-worker of what to do with that $10-$20K that recent graduates will essentially have put back in their bank accounts.

And that was the inspiration for this list.

5 Ways New Englanders Can Spend Student Loan Forgiveness Money

You were just gifted $10-$20K -- here are ideas on what to do with it!

LOOK: Here are 25 ways you could start saving money today

These money-saving tips—from finding discounts to simple changes to your daily habits—can come in handy whether you have a specific savings goal, want to stash away cash for retirement, or just want to pinch pennies. It’s never too late to be more financially savvy. Read on to learn more about how you can start saving now. [From: 25 ways you could be saving money today]

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