The education secretary would be able to determine if a borrowers circumstances entitle them to debt relief under a new proposed plan.
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Student loan borrowers likely to default and those experiencing hardship because of their loans could see their balances wiped out under the Biden administrations latest debt-relief plan, though its not clear how many borrowers would be affected.
The plan, released Thursday, builds on the departments work over the last six months to craft regulatory proposals that would offer debt relief to certain groups of borrowers. Those plans included borrowers who owed more than they initially borrowed or who have been paying back their education loans for…
Read the full article at: https://www.insidehighered.com/news/government/student-aid-policy/2024/02/16/biden-administration-eyes-debt-relief-borrowers