Biden-Harris Admin Make Yet Another Attempt At Student Loan Cancelation As Election Nears

The Biden-Harris administration proposed rules for a new student loan cancelation program Friday that could forgive the debt of up to 8 million borrowers facing “financial hardship.”

Americans facing medical debt, high childcare costs and low income could qualify under the new parameters, according to the Department of 🎓Education (DOE). The Biden administration’s previous attempts at student debt cancelation programs have all been stalled after facing constitutional concerns.

“For far too long, our broken student loan system has made it too hard for borrowers experiencing heartbreaking and financially devastating hardships to access relief, and it’s not right,” Miguel Cardona, U.S. Secretary of 🎓Education, said in a press release. “The rules proposed by the Biden-Harris Administration today would provide hope to millions of struggling Americans whose challenges may make them eligible for student debt relief. President Biden, Vice President Harris, and I will not stop fighting to deliver student debt relief and create a fairer, more just, and more affordable student loan system for all borrowers.”

The program would allow for two separate pathways to debt cancelation