Here’s what our readers think about Biden’s student loan forgiveness program

Find out if you qualify under the Department of Education's new guidelines

RAPID CITY, S.D. – The Department of Education made changes to the rules for the Student Debt Relief Plan last week, specifying that privately-held student loans will no longer be eligible for forgiveness except under certain circumstances. This contrasts with previous guidance that borrowers would be eligible for forgiveness of their Perkins and FFEL loans if they were consolidated into the Direct Loan Program.

51% of readers who answered our poll were broadly opposed to the loan forgiveness program, while 46% supported it in some way.


So how can you know if your loans are eligible for forgiveness?

For starters, FFEL loans stopped being issued in 2010, and Perkins loans stopped being issued in 2017. If your federal loans are newer than that, they are almost certainly eligible for relief.

To determine for sure who holds your loans, you can log into your account at In the “Loan Breakdown” section, you can see details on each of your loans, including who they are held by. According to the federal student aid website:

  • Subsidized loans
  • Unsubsidized loans
  • Parent PLUS loans
  • Graduate PLUS loans held by the Department of Education
  • Consolidation loans as long as all of the underlying loans that were consolidated were held by the Department of Education
  • Consolidation loans comprised of any FFEL or Perkins loans not held by ED are also eligible, as long as the borrower applied for consolidation before September 29, 2022

If you know how much money you made last year, as well as whether your loans are held by a private lender or the government, you can follow the flowchart below:


The only way to know for certain, however, is to ask your loan provider.

Categories: National News