The Biden administration promised not to give up on debt cancellation after the Supreme Court rejected their first attempt. They promised that a new system of income-driven repayment (IDR) would mitigate the return of student loan payments.
Were now several weeks into both of those projects, enough time to make some early assessments. The scope for debt cancellation has narrowed, and the savior that IDR was supposed to become has thus far not delivered as advertised. Still, the Education Department is cobbling together a framework for student loans that would be a real improvement, if it follows things through to their logical conclusion.
A week ago, the Education Department released a draft set of rules for student debt relief, arisin…
Read the full article at: https://prospect.org/education/2023-11-06-student-debt-reliefs-narrow-path/