January 28, 2022

College

Its all about the school

Will FFEL Student Loans Be Forgiven?

11 min read

The big question I get from student loan borrowers is whether FFELP Loans (Federal Family Education Loans) will be forgiven by Pres. Joe Biden.

There’s a lot of talk about student loan forgiveness right now.

But there’s nothing imminent.

No law has been introduced. There’s not much for us to look at to no for sure if FFEL Loans will be included in any student loan forgiveness proposal.

That said, we can look to what’s already happened to try and get an idea as to whether or not FFELP Loans will be forgiven.

And when we look at what’s already happened, we can see that neither the CARES Act or the current student loan freeze applied to FFELP Loans held by guaranty agencies. Your loans continued to gain interest and your monthly payments continued to be required.

Given that those laws didn’t apply to FFEL Loans, it’s likely safe to deduce that any potential federal student loan forgiveness won’t apply to FFELP Loans.

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