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Forgiving it? No way... I can't see that happening even if they had 300 million signatures and it shouldn't happen.
Depending on the conditions, I would support a deferment, which you can get for various reasons already.
Credit wise, school loans do little to nothing to help your credit, however they can burn your credit. As well, they factor into a home loan as total money going out vs. income. Overall, credit wise, they're about the lowest on the scale as you can get.
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