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It’s Mid-October, But There’s Still No Loan Forgiveness Application
What the hell is the hold up?
3 min readOct 12, 2022
From Day 1, Biden and the Education Department told us an application will appear in early October. Young people riddled with debt celebrated, for they’ll finally have a chance at life.
Today is October 12th. I see it as mid-October, and the applications aren’t here yet. Is Biden going back on his word, or is something else happening?
For Starters, Lawsuits Are Forcing Him To Change The Rules
Do you know why it took Biden so long to announce loan forgiveness? He wanted to make sure he could. Perhaps he expected greedy conservatives to sue him if he did, and he wanted a solid argument. I don’t know. It made him look wishy-washy.
Greedy conservatives are suing anyway. When they sue, Biden and the Education Department change the rules. Here’s what changed.
- No one’s forcing any borrower to apply for forgiveness.
- Privately owned Perkins and FFEL borrowers can’t apply for forgiveness.
- You can’t consolidate your private loans into Federal loans.
- Divorced couples can sever joint consolidation student loans.
