COLUMBUS, Ga. (WTVM) - The Biden Administration is canceling more than $6 billion worth of federal student debt.
Wednesday, the U.S. Department of Education said it has identified 100,000 borrowers eligible for the ‘Public Loan Forgiveness Program’.
The program launched 15 years ago, however the administration under Biden has made changes to it in October.
Now some borrowers have until October to apply for the forgiveness.
For more information on student loan debt cancellation, click here.
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LeCrushinator on March 11st, 2022 at 20:57 UTC »
From the government website:
be employed by a U.S. federal, state, local, or tribal government or not-for-profit organization (federal service includes U.S. military service);
work full-time for that agency or organization;
have Direct Loans (or consolidate other federal student loans into a Direct Loan);
repay your loans under an income-driven repayment plan*; and
make 120 qualifying payments.
Unless I'm misunderstanding, that first bullet point is a big one. Anyone working in the private sector is pretty much out of luck.
zombie9393 on March 11st, 2022 at 17:16 UTC »
They should look at why in the fuck an 18yr old kid can acquire $100k or more of student loan debt, yet cannot get a $35-40k car loan.
jimbooneu on March 11st, 2022 at 16:36 UTC »
Unless I’m missing something this isn’t news. The debt will be forgiven after paying it off for years but not cancelled and this program has been around for 15 years.