The Biden administration is moving forward with an overhaul of several student debt forgiveness programs, aiming to make it easier for borrowers to get relief if they are duped by their colleges or if they put in a decade of work as public servants.
President Joe Biden introduced the new digital hub for student loan forgiveness, where eligible Americans can apply to have part or all of their federal student loan debt cleared. Visit studentaid.gov for more information or to see if you qualify.
It’s a reversal from Trump-era policies that eliminated group discharges and made it harder for individuals to qualify for relief. The new rule cements the department’s ability to erase debt for thousands of borrowers in a single action, as the Biden administration has already done for those who attended ITT Tech, Corinthian Colleges and other for-profit college chains.
“We’re putting students ahead of special interests,” said Cardona, adding that his agency will go after “shady schools” that leave students with heavy debt and “useless” college degrees. The rules were embraced by student advocates but blasted by an industry group representing for-profit colleges. The group said the rules will deprive schools of due process protections, and it questioned how closely the department reviewed the more than 5,000 public comments responding to its initial proposal.
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