The NPR Politics Podcast Biden Reverses On Debt Cancellation For Hundreds of Thousands
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Oct 3, 2022 Cory Turner, NPR's education correspondent, joins the conversation to unpack the U.S. Department of Education's recent decision altering eligibility for student debt relief. He reveals that around 4 million borrowers could be left in the lurch, no longer qualifying for forgiveness. The discussion navigates the political fallout and strategic hurdles the Biden administration faces amidst ongoing legal pressures. Turner highlights the discontent among borrowers while dissecting the broader implications for upcoming elections.
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Student Loan Forgiveness Changes
- The U.S. Department of Education quietly changed guidance on President Biden's student debt relief plan.
- Borrowers with Federal Family Education Loans (FFEL) may no longer be eligible for forgiveness.
Reason for Policy Change
- Private banks and loan servicers managing FFEL loans argued they would suffer financial harm if too many loans were forgiven.
- Six Republican states filed a lawsuit against the plan, prompting the policy change.
Affordable Care Act Comparison
- Domenico Montanaro compared the situation to the Affordable Care Act.
- The Obama administration was worried the entire law would be thrown out.