Colleges fielding questions on student loan forgiveness plan

A study by the Government Accountability Office revealed flaws in the management of...
A study by the Government Accountability Office revealed flaws in the management of income-driven repayment plans, which offer reduced monthly payments and automatic forgiveness after 20 or 25 years.(Source: Pixabay)
Published: Aug. 24, 2022 at 10:54 PM CDT
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WICHITA, Kan. (KWCH) - Soon after President Joe Biden announced the White House’s plan for student loan forgiveness, colleges began fielding an array of questions, many of which they’re also working to figure out. Chief among the most commonly-asked questions concern guidance for applying and clarity on who qualifies for the relief. There are also concerns about inflation and questions of fairness with those who’ve already paid off student loans without the lifeline.

In Wichita, Newman University Director of Financial Aid Myra Pfannenstiel said she tried to help a student with another issue, but she couldn’t access the U.S. Department of Education’s online resource, studentaid.gov, because the site “is being flooded right now by everybody looking for information about [student loan debt relief].”

Pfannenstiel said information for Newman students concerning loan forgiveness is under development. The department of education said it will provide updates, including how borrowers can qualify, through the Federal Student Loan Borrower Updates subscription.