In A Letter to the Editor, published on 10/15 in the Orlando Sentinel, Rebecca Palmer details Biden’s student loan forgiveness program and how it affects divorced families. In previous decades, many married couples consolidated their federal student loan debt into joint accounts—making both individuals responsible for the debt. The practice was suspended after 2006, but plenty of couples took advantage of this option to lessen the financial burden of student loans. Divorces happen, and that joint account remains in both individuals’ names for repayment—forever linking the ex-spouses together in a tense, financially stressful situation. However, federal changes at the legislative and executive levels could provide some relief for divorcees.

“With Congress recently passing a bill allowing divorced couples to separate their consolidated student loan debt, President Biden’s student loan forgiveness program opens the door for more financial relief,” writes Rebecca. “Before the bill was passed, consolidated student loan debt was excluded from the President’s loan relief program.”

Rebecca continues, “With the bill allowing these joint accounts to be split, both individuals can apply for the loan relief program since a debt split is a direct consolidation loan, eligible for loan forgiveness under the President’s program.” She adds that there are stipulations each divorcee must qualify for, but the financial relief available is a positive change for post-divorce proceedings.

To read the story in full, click here.