{"id":1665895,"date":"2022-09-30T07:05:20","date_gmt":"2022-09-30T11:05:20","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1665895"},"modified":"2022-09-30T07:06:19","modified_gmt":"2022-09-30T11:06:19","slug":"biden-admin-quietly-makes-reversal-on-student-loan-forgiveness-program-scales-back-eligibility","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-quietly-makes-reversal-on-student-loan-forgiveness-program-scales-back-eligibility\/","title":{"rendered":"Biden Admin Quietly Makes Reversal on Student Loan Forgiveness Program, Scales Back Eligibility"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-admin-quietly-makes-reversal-on-student-loan-forgiveness-program-scales-back-eligibility%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1665895&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The Biden administration quietly issued an update to its student loan\u00a0forgiveness plan on Thursday, drastically scaling back\u00a0eligibility on the same day that\u00a0six Republican-led states <a href=\"https:\/\/www.theepochtimes.com\/six-states-sue-biden-education-secretary-over-student-debt-cancellation_4764111.html\">filed a lawsuit<\/a> against President Joe Biden, claiming\u00a0his\u00a0<a href=\"https:\/\/www.theepochtimes.com\/t-student-loan-forgiveness\">student loan forgiveness<\/a> plan\u00a0is illegal.<\/p>\n<p>As of Thursday, borrowers\u00a0who have federal student loans that are owned by private entities and not by the U.S. Department of Education will no longer\u00a0qualify for the relief program.<\/p>\n<p>Previously, the administration had said those borrowers with student loans owned by private entities, many of which were made\u00a0under the former Federal Family Education Loan (FFEL) program and Federal Perkins Loan program, would qualify for relief of\u00a0up to $10,000 or $20,000 in loan forgiveness,\u00a0as long as the borrower consolidated his or her debt into the federal Direct Loan program.<\/p>\n<p>The <a href=\"https:\/\/studentaid.gov\/debt-relief-announcement\/one-time-cancellation\">guidance<\/a> now states: \u201cAs of Sept. 29, 2022, borrowers with federal student loans not held by ED cannot obtain one-time debt relief by consolidating those loans into Direct Loans.\u201d<\/p>\n<p>More than 4 million student loan borrowers have privately held loans through the FFEL Program,\u00a0according to\u00a0NPR.<\/p>\n<p>\u201cOur goal is to provide relief to as many eligible borrowers as quickly and easily as possible, and this will allow us to achieve that goal while we continue to explore additional legally-available options to provide relief to borrowers with privately owned FFEL loans and Perkins loans, including whether FFEL borrowers could receive one-time debt relief without needing to consolidate,\u201d the Department of Education said in an emailed statement to CNN.<\/p>\n<p> <a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2022\/08\/02\/GettyImages-1411264216-1200x800.jpg\"><\/a> Activists rally outside the White House on July 27, 2022 to call on President Joe Biden to cancel student loan debt. It turns out student loans cost taxpayers much more than the Government Accountability Office estimated. (Anna Moneymaker\/Getty Images) \u2018Highly Uncertain Assumptions\u2019 <\/p>\n<p>\u201cBorrowers with privately held federal student loans who applied to consolidate their loans into Direct Loans before<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration quietly issued an update to its student loan\u00a0forgiveness plan on Thursday, drastically scaling back\u00a0eligibility on the same day that\u00a0six Republican-led states filed a lawsuit against President Joe Biden, claiming\u00a0his\u00a0student loan forgiveness plan\u00a0is illegal. As of Thursday, borrowers\u00a0who have federal student loans that are owned by private entities and not by the U.S. [\u2026]<\/p>\n","protected":false},"author":69,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1665895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1665895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/69"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1665895"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1665895\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1665895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1665895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1665895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}