The Department of Education quietly changed its guidelines last week regarding who qualifies for President Joe Biden's student loan forgiveness program.
The change could impact up to four million borrowers, according to a new report.
Student debt forgiveness is unjust, highly regressive, and inflationary.
It should be scrapped, not scaled back.https://t.co/WPzsjRNiHh
— Jon Miltimore (@miltimore79) October 4, 2022
"Until Thursday, the department's own website advised these borrowers that they could consolidate these loans into federal Direct Loans and thereby qualify for relief under Biden's debt cancellation program," NPR reported.
"On Thursday, though, the department quietly changed that language. The guidance now says, '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,'" it added.
2 words: $400 Billion student loan forgiveness. pic.twitter.com/udmbfFPpRz
— Gilbert the Patriot 🇺🇸 (@Merica_USA1) October 10, 2022
The controversial student loan forgiveness plan has already angered many Americans over its unfair choosing of who has to pay back debt. The new change adds even more problems, excluding many who would otherwise qualify due to a change in the details of the plan.
Biden's most significant benefit among many young Americans was his commitment to ending student loan debt. For most, the plan will do little to help, making Biden even more unpopular to those who have voted for him.