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Biden-Harris Administration Surpasses 5 Million Borrowers Approved for Student Loan Forgiveness
U.S. Department of Education
January 13, 2025
Approved discharge amount reaches $183.6 billion
The Biden-Harris Administration announced today several additional actions to forgive federal student loans for public servants and borrowers with disabilities, as well as the loans of borrowers who attended colleges that engaged in wrongdoing. Across 28 debt relief actions, including today’s, the Administration has announced $183.6 billion in student loan forgiveness for more than 5 million borrowers since taking office.
“Four years ago, President Biden made a promise to fix a broken student loan system. Today, life-changing student debt relief is possible for more than five million borrowers—more than any other administration in history,” said U.S. Secretary of Education Miguel Cardona. “Thanks to our tireless and unapologetic efforts to work toward a system that is affordable and accountable to both students and taxpayers, today’s announcement includes additional relief for borrowers misled and cheated by their institutions, borrowers with disabilities, as well as additional loan forgiveness for public servants I’m proud of our work to bring relief to these hardworking Americans across the country, and of the Biden-Harris Administration’s historic achievements in making the potential of higher education possible for more people.”
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Read MoreSupreme Court to examine Biden administration’s borrower defense rule
Higher Ed Dive
Natalie Schwartz
January 14, 2025
The U.S. Department of Education challenged a court ruling that temporarily blocked regulations for granting debt relief to certain students.
Dive Brief:
The U.S. Supreme Court agreed Friday to review an appellate court decision that blocked the Biden administration’s rules for granting debt relief to students whose colleges misled them or closed before they could finish their education.
In April, the 5th U.S. Circuit Court of Appeals issued a preliminary injunction that halted the changes to the borrower defense to repayment regulations, as well as those governing closed school discharges. The ruling came in response to a lawsuit brought by Career Colleges & Schools of Texas, which represents private career institutions in the state.
The Supreme Court did not set a date to hear oral arguments but if it’s this term, a decision would be delivered by the summer. Regardless of the timing, the ruling will come well after President Joe Biden leaves office next week.
Dive Insight:
The U.S. Department of Education released rules governing the two debt relief programs in October 2022. The agency said the changes would make it easier for students to be eligible for and receive loan forgiveness if they were defrauded or their colleges closed.
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Read MoreHere’s How Trump May Reshape Higher Education in His First 100 Days
Best Colleges
Matthew Arrojas
January 16, 2025
President-elect Donald Trump may very well spend his first 100 days in office reversing Biden-era higher education policies.
Incoming President Trump will likely look to reinstate many of his previous higher education priorities.
The landscape has changed, however, meaning new actions could be incoming.
Trump’s plans for federal financial aid and student loan programs will impact millions of current and former college students.
Donald Trump will soon assert control over the Department of Education (ED) again, promising to enact changes sure to shake up the U.S. higher education system.
The president-elect didn’t often highlight his higher education agenda on the campaign trail, but his actions during his first term in office hint at possible plans to come.
The higher education landscape has also changed substantially since his first term, underlined by President Joe Biden’s reversal of many Trump-era regulations.
It remains to be seen whether his nominee to oversee ED, businesswoman Linda McMahon, will be confirmed, but higher education experts told BestColleges they expect Trump to be active in higher education policy within his first three months in office.
One priority for ED during the first months of the Trump administration will be facilitating the release of this year’s Free Application for Federal Student Aid (FAFSA) form and the resumption of federal student loan repayment.
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