The name “Obama Student Loan Forgiveness” has become the nickname for a program actually called the William D. Ford Direct Loan program. Many people only know about the program, and have heard of it through others as the Obama Student Loan Forgiveness program. The name came about when President Obama reformed part of the Direct Loan program in 2010 by signing the Health Care and Education Reconciliation Act of 2010. Its important to keep in mind all the programs are offered for federal student loans. Private loan borrowers are not able to benefit from any of the below information.
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