Biden Administration Refines Student Debt Relief Plans
Katherine Knott
December 5, 2023
Borrowers who started repaying their undergraduate loans at least 20 years ago and still have a balance will see their remaining debt discharged under an updated proposal for one-time student loan forgiveness released Monday. All other borrowers, including those with graduate school loans, would be eligible for forgiveness on debt that entered repayment at least 25 years ago.
Education Department officials will meet with a negotiating committee next week for a final round of discussions about how to provide relief and to which borrowers. The two daylong sessions next week will cap months of work that began in June when the Supreme Court struck down President Biden’s first attempt to provide broad-based student loan forgiveness.
