They think young people won’t find out about it in the next ~1 month until the midterm elections?
Isn’t that, like, everyone with federal student loans now?
It refers to FFEL grants, which they haven’t been offering in a decade but might be relevant to older millennials/gen Xers
Cool cool, so the only loans I haven’t paid off. Had a brief glimmer of hope when I heard there would be some pathway to getting help with these, but I guess that’s off the table.
Very cool how Obama was like “hey this program is actually very bad and we are going to end it, sucks if you are already in it though.”
It affects people with a specific type of loan. From another article:
At the center of the change are borrowers who took out federal student loans many years ago, both Perkins loans and Federal Family Education Loans. FFEL loans, issued and managed by private banks but guaranteed by the federal government, were once the mainstay of the federal student loan program until the FFEL program ended in 2010.
Today, according to federal data, more than 4 million borrowers still have commercially-held FFEL loans.
So basically it will affect 4 million people with loans taken before 2010
