Biden WH Releases New Student Loan Debt Forgiveness Rules

The Department of Education unveiled President Joe Biden’s latest student loan debt forgiveness plan that, if implemented, would bring relief to more than 30 million borrowers.

The proposal was published in the Federal Register on Wednesday, opening a 30-day public comment period as part of the federal rulemaking process.

Biden’s first attempt at fulfilling a campaign promise for widespread student loan debt forgiveness was unveiled in 2022 and would have provided individual borrowers whose incomes fell below $125,000 with up to $20,000 in relief. It was struck down by the Supreme Court in a 6-3 ruling in August following a lawsuit brought by six Republican state attorneys general.

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