Will Education Department Cancelled $4 Billion Student Loans

Traveling knowledge

By: John Derric

discharge all federal student loans

amounting to $3.9 billion in full loan discharges between 208,000 borrowers

Cancels $5.8 Billion in Student Loan

only to the $5.8 billion loan cancellation for 560,000 former attendees of Corinthian Colleges

Who is eligible federal student loans

student loans for 208,000 borrowers who attended ITT Technical Institute from Jan. 1, 2005, through its closure in September 2016

What Education has announced

Department of Education has announced that it will discharge $3.9 billion in federal student loans for 208,000 borrowers

total amount of loan forgiveness

Full loan discharges totaling $5.8 billion will be granted to 560,000 borrowers, including those who have not yet applied

how to apply loan forgiveness

Forgiveness is automatic with no action required on the part of former students.

receive a refund of amounts

Students with remaining debt will receive a refund of amounts already paid.

who will not refund

Those who have fully repaid their debt will not receive a refund.

Forgiveness is Automatic

Former students who have not yet applied for a discharge will not be required to take any action

$25 Billion in Student Loan Relief

Education has now approved $25 billion in loan forgiveness for 1.3 million borrowers

Rules for Student Loan Forgiveness

Counteracting historic issues within the federal student loan program

The Three Big Changes

Ending “Forbearance Steering Tracking Progress Toward IDR Forgiveness Tackling Student Debt

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