Thought You Were Free from Student Loans? You May Be Out of Luck #Shorts

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“I am altering the deal, pray I do not alter it any further.” That’s what President Biden is saying after six Republican states sued the administration on September 29 over its plans to forgive student loans, causing the Feds to change who is eligible. Now, borrowers whose federal student loans were guaranteed by the feds but held by private lenders won’t get debt relief. That’s nearly 770,000 people being left out to dry. Borrowers had until… September 29 to consolidate their loans in order to dodge the change… You may have noticed that gave them literally no time to do that. Those people are out of luck, although in the grand scheme they’re a small percentage of the 44 million federal student loan borrowers. Moving forward, the Department of Education said it hasn’t completely abandoned these borrowers and is looking for “alternative pathways” to provide relief.

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Produced by: Cory Ray, Philip DeFranco
Edited by:
Art Department: William Crespo
Writing/Research: Brian Espinoza, Philip DeFranco
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#DeFranco #StudentDebt #Shorts