‘Just Kidding’: Biden Yanks Student Loan Forgiveness From 770,000 Borrowers

In a jarring reversal, the U.S. Department of Education on Thursday quietly revised its online guidance on who qualifies for the $10,000 of student loan forgiveness that President Biden announced in August. In doing so, it pulled the rug out from under at least several hundred thousand people.

At issue: Borrowers who have Perkins loans and Federal Family Education Loans (FFEL). Those earlier-generation loans were guaranteed by the federal government but were issued and are managed by private lenders. The FFEL program ran from 1965 to 2010; Perkins loans ended in 2017.

as the crow flies🐉🌻 on Twitter: “People who have FFEL loans are older, have families, many obligations and are being crushed by this ongoing debt. Retirement? Gotta keep paying those student loans. New car? Appliances? Kids college? Nope. Nope. / Twitter”

People who have FFEL loans are older, have families, many obligations and are being crushed by this ongoing debt. Retirement? Gotta keep paying those student loans. New car? Appliances? Kids college? Nope. Nope.

https://www.zerohedge.com/political/psyche-biden-yanks-student-loan-forgiveness-770000-borrowers

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