Latest on Louisiana Student Loan Forgiveness – Check Your Email

Louisiana has some great college towns. You can't deny the atmosphere on a Saturday night in the fall in Baton Rouge is epic by any stretch of the imagination. There is also a great atmosphere for learning, sports, and community in Lafayette at the University of Louisiana. And in Lake Charles, the contributions of students and alumni of McNeese State University certainly shouldn't be taken for granted.

One thing all of our Louisiana colleges and universities have in common is student loan debt. Technically it's the students of those institutions of higher learning that have the student loan debt. If you're one of some 30 million Americans who still owe for your education there is an important email you need to be looking for.

The United States Department of Education has sent emails to any person with at least one outstanding federally held student loan. The email does not offer nor guarantee student loan forgiveness but it does point out an important deadline should you want to be considered to have your student loans reduced or forgiven under federal programs.

The email is a reminder that you have until August 30th, 2024 to make a decision on opting in or opting out of any student loan forgiveness program. The current program proposed by the Biden Administration is being vetted in court.

We should note that if you decide to opt out of the debt relief program you will not be eligible to opt back in or enroll in other debt relief payment programs without enrolling again at a much later date. This might mean that you could miss out on some of the benefits of the program so weigh your options carefully.

Depending on the outcome of the current legal wrangling an official outline of the Department of Education's student loan relief program won't likely be available until this fall. Those close to the situation expect the final rules to be published sometime in October. In the meantime, check your email to see if the Department of Education has reached out to you.