The Shade Room on Instagram: "TSR Staff: China! @china_lovelace _______________________ The U.S. Department of Education is moving funny! They recently changed its guidance around who qualifies for President #JoeBiden's student debt relief plan. According to @NPR, the change is regarding borrowers who took out federal student loans several years ago. This includes Perkins loans and Federal Family Education Loans (FFEL)._______________________Reports state FFEL department's website advised borrowers that they could consolidate these loans into federal Direct Loans and thereby qualify for relief under Biden's debt cancellation program. However, the department quietly changed that language. The current guidance states, "As 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."_______________________This change can potentially affect roughly 800,000 borrowers. At this time, it's unclear why the department reversed its decision on allowing FFEL borrowers with commercially-held loans to consolidate and then qualify for debt relief. Thoughts #Roommates?" | Zootzle
