Washington, DC U.S. Senator Sheldon Whitehouse today encouraged Rhode Islanders with privately held student loans through the Federal Family Education Loan (FFEL) program to consolidate their loans to the Direct Student Loan Program to become eligible for student loan forgiveness. Borrowers have until June 30, 2024 to convert their loans from commercial to federal loans to qualify for the President Bidens recently announced payment-count adjustment plan.
Currently, individuals with student loans through the FFEL program, a program that worked with private lenders to provide education loans guaranteed by the federal government, are ineligible for current federal student loan forgiveness programs. This consolidation opportunity makes ov…
Read the full article at: https://www.whitehouse.senate.gov/news/release/whitehouse-encourages-rhode-islanders-to-utilize-temporary-federal-student-loan-consolidation-option-to-secure-debt-relief/