White House limits student loan forgiveness one day before FAFSA opens

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LAWTON, Okla. (KSWO) — Just a day before the application for free federal student aid opens, the Biden administration is limiting the loans that can be forgiven.

The White House has decided to exclude loan forgiveness from private loan companies, even if the loan is guaranteed by the government.

A series of lawsuits have been filed against the effort.

People who previously thought some of their debt could be relieved…may still have to pay.

Application for student loan forgiveness is expected to open in early October.

For those who are still in school and applying for FAFSA tomorrow… not knowing if they will be forgiven leaves their finances in the air.

The Cameron University Financial Aid Office always urges people to apply as soon as possible, as FAFSA grants are awarded in first come first served.

“Anyone who thinks they might be in school on August 23 should go ahead and fill out the FAFSA and put their application online for any grant funding we miss,” Caryn Pacheco, director of the financial assistance from Cameron University.

To qualify for grants, loans, and scholarships from the government and certain other organizations, a completed FAFSA application is required.

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