Biden administration scales back student debt relief for MILLIONS of Americans in stunning reversal after being faced with first lawsuits and following criticism of the huge cost to taxpayers
The Department of Education announced the change on Thursday
Biden administration announced plans to provide up to $20,000 in relief
Change affects FFEL loans, held by private banks but backed by the government
Loan programs switched to direct lending in 2010 under the Obama admin
The new shift will reportedly affect 770,000 people who have student debt
Six Republican-led states sued in federal court seeking to stop the loan relief
One apparent concern is that lenders may sue and claim harm
Have you been impacted by the change? email newsus@dailymail.com
