The Biden-Harris Administration today released new proposed regulatory text focused on providing debt relief for borrowers facing hardship on their student loans. In the wake of the Supreme Court’s decision on the Administration’s original student debt relief plan last summer, President Biden announced a new path to provide debt relief for as many borrowers as possible under the Department of Education’s existing rulemaking authorities. The text will be discussed as part of a negotiated rulemaking session on February 22 and 23.
