Biden Administration Changes Eligibility Requirements For Student Loan Debt Relief Plan


On Thursday, the Biden administration scaled back the eligibility requirements for the student loan forgiveness plan. Under the new terms, borrowers who have loans that were guaranteed by the federal government but held by private lenders will no longer be eligible for debt relief. The amended plan will impact around 800,000 people.

When Biden's one-time student loan debt relief plan was launched earlier this month, The Department of Education initially told borrowers that loans under the Federal Family Education Loan program (FFEL) and Federal Perkins Loan program would be eligible for debt relief as long as the borrower consolidated their debt into the federal Direct Loan Program.... Read more


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