Education Student Loans News

"Biden Administration Expands Student Loan Forgiveness for Borrowers in Hardship"

The Biden administration is proposing to expand student loan forgiveness to include relief for borrowers facing financial hardship, those with large sums of interest, older loans, and those who attended low-value for-profit college programs. The relief proposal aims to automatically erase loans for eligible borrowers and reset accrued interest for those earning up to $125,000 or $250,000 as a couple. The plan is going through a rulemaking process and faces potential legal challenges from conservatives.