They think young people won't find out about it in the next ~1 month until the midterm elections?

https://twitter.com/libbycwatson/status/1575534594605998081

    • Parzivus [any]
      ·
      2 years ago

      It refers to FFEL grants, which they haven't been offering in a decade but might be relevant to older millennials/gen Xers

      • spring_rabbit [she/her]
        ·
        2 years ago

        Cool cool, so the only loans I haven't paid off. Had a brief glimmer of hope when I heard there would be some pathway to getting help with these, but I guess that's off the table.

        Very cool how Obama was like "hey this program is actually very bad and we are going to end it, sucks if you are already in it though."

        • Parzivus [any]
          ·
          2 years ago

          Essentially, if you loans are from 2011 or later this doesn't affect you, while if they're older it might. NPR says it affects about four million people

      • CanYouFeelItMrKrabs [any, he/him]
        ·
        2 years ago

        It affects people with a specific type of loan. From another article:

        At the center of the change are borrowers who took out federal student loans many years ago, both Perkins loans and Federal Family Education Loans. FFEL loans, issued and managed by private banks but guaranteed by the federal government, were once the mainstay of the federal student loan program until the FFEL program ended in 2010.

        Today, according to federal data, more than 4 million borrowers still have commercially-held FFEL loans.

        So basically it will affect 4 million people with loans taken before 2010

      • JoeByeThen [he/him, they/them]
        ·
        2 years ago

        Nah, I had Pell grants and they consolidated my loans into these FFEL loans. They wanted me to pay like $600 a month or something before consolidation.