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Hundreds of thousands of Americans cut from President Biden’s student loan forgiveness program

October 15, 2022 admin Comments Off
Applications for President Biden’s student loan relief program are expected to open this month, potentially freeing millions of Americans from up to $20,000 of debt per eligible borrower.

“We’re told a lot of this will be automatic, almost like the stimulus checks were,” said Eric Kopp, associate director of financial aid at Franklin & Marshall College.

Yet for current and former students, as well as college financial aid offices, a lot of questions remain.

“The application is not there, you only need the application supposedly if it doesn’t automatically go into effect, so I think there is a little bit of confusion that will hopefully be cleared up before this month is over,” explained Kopp.

The Biden Administration announced in August borrowers of federal loans are eligible for up to $10,000 in debt cancellation, as long as they fall into specific income requirements.

Read the full article here: https://www.fox43.com/article/news/education/student-loan-forgiveness-franklin-and-marshall-yrefy-debt-relief/521-75ee8d0e-33a8-4a52-bcd8-6c862d92637a

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