Biden-Harris Administration Seek to Expand Relief for Student Loan Borrowers

The Biden-Harris administration has announced new proposed regulations to expand student debt relief, potentially impacting around 8 million borrowers facing financial hardship. The proposal, introduced by the U.S. Department of Education, would allow the Secretary of Education to forgive loans in cases where borrowers are unlikely to repay due to severe hardship or where continued collection costs are deemed unjustified. “For far too long, our broken student loan system has made it too hard for borrowers experiencing heartbreaking and financially devastating hardships to access relief, and it’s not right,” said...