This students loan involves borrower defense to student loan repayment, which is an Obama-era rule that enables student loan borrowers to get full student loan cancellation or partial student loan cancellation.
To date, excluding this latest announcement, Biden has enacted $7.9 billion of student loan for 690,000 borrowers under borrower defense to student loan repayment and school closures.
Follow these 10 steps
1. Have you applied for borrower defense to student loan repayment?
2. If Yes, determine if you attended one of these approximately 150 colleges or universities. This $6 billion of student loan forgiveness relates to a settlement agreement of a class action lawsuit regarding student loan cancellation based on borrower defense to repayment.
3. If you attended one of these schools and applied for borrower defense to repayment, then you will get full student loan cancellation of your remaining federal student loans.
4. If you applied for borrower defense to repayment but didn’t attend one of these schools, then you will receive a decision on your application from the U.S. Department of Education based on when you applied.
5. What if you applied for borrower defense to repayment but your claim was denied? If you attended one of these schools, then your claim will be reinstated and you will get student loan cancellation based on borrower defense to repayment.
6. What if you haven’t applied for student loan cancellation based on borrower defense to repayment?
7. You can apply for borrower defense to student loan repayment online.
