According to the new guidance, however, borrowers with FFEL or Perkins loans not held by the department can no longer obtain one-time debt relief through consolidation, and will only qualify for forgiveness if they applied for consolidation before Sept. 29.First, you should verify that you meet the income threshold by checking your 2020 and 2021 tax returns, as experts say that the administration will likely estimate your annual income from either, or both, of those forms.The best way to confirm whether or not you will be affected by changes to the program is by calling your loan servicer and asking what kind of loans you have, says Scott Buchanan, executive director of the Student Loan Servicing Alliance.Earlier this week, an attorney for the Pacific Legal Foundation, a conservative law organization, launched the first major legal challenge to Biden's plan.Check out:Borrowers react to student loan forgiveness: 'A huge weight has been lifted off of my shoulders'Biden announces $10,000 student loan forgiveness plan—here's who qualifiesStudent debt experts say $10,000 isn't enough specifically for Black borrowers—here's whySign up now: Get smarter about your money and career with our weekly newsletter"