Getting student debt forgiveness could be easier under new rules proposed by Biden administration

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'We are committed to fixing a broken system,' Education Secretary Miguel Cardona said in a statement. 'If a borrower qualifies for student loan relief, it shouldn't take mountains of paperwork or a law degree to obtain it.'

. But political and legal battles have led to a backlog of more than 200,000 applications, with some borrowers waiting years for a decision.

In a change of policy, the Biden administration also hopes to hold more colleges financially liable for their students' canceled loans. In the past, loan cancellation has typically been passed to taxpayers, but the proposed rules would make it clear that the department plans to recoup costs from colleges that commit fraud.

"Today's proposed rule sends a clear and troubling message that the Department intends to use the rulemaking process to discharge federal student loans en masse while hurting unfavored institutions and their students," Altmire said., which was created by Congress as an incentive for government and nonprofit workers but has been criticized for having overly rigid requirements.

For the first time, borrowers in certain situations could also make progress toward loan forgiveness even if they don't pay. Those who get their loans paused for cancer treatment, military service or to join the Peace Corps, for example, would be treated as if they were still making monthly payments during that time.

More flexibility would also be added for a separate program intended to help borrowers with disabilities.

 

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'If a borrower qualifies for student loan relief, it shouldn't take mountains of paperwork or a law degree to obtain it.' = No student debt reduction executive order.

Count on the working tax payer to pick up the tab for a person who made a choice to go to a college they couldn't afford. ITS NOT RIGHT. Go Jr Pay your own debt

Biden has spent $billions of taxpayer money to pay student debt. Not being reported by liberal media.

Exactly! In past it ways joke to get qualified and through the process. Glad you’re working on it. Thx

Loans shouldn't be given for useless majors.

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