President Joe Biden said that federal student loan borrowers who meet income requirements would have up to $10,000 of their student loans forgiven.
There are new changes to who is eligible for federal student loan forgiveness. It comes as six states filed lawsuits to try and block the plan altogether.They're part of a program that ended back in 2010 and are managed by private banks, but they still qualify for forgiveness if they were consolidated into a direct loan by Sept. 30. The Education Department said this will affect around 770,000 people.
“They can request a refund of the payments that they made that weren't required, and that's been the case since the very beginning of the pandemic,” said student loan expert Mark Kantrowitz.
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