Millions of student-loan borrowers could benefit from President Joe Biden’s broader debt relief plan just weeks before the election.
Biden’s administration published its Spring 2024 Unified Agenda in early July, which outlines deadlines for federal agencies to finalize ongoing rules and priorities.
With regards to the Education Department’s ongoing student-debt relief proposals, borrowers now have a clearer timeline to expect implementation. The department’s broader plan to cancel student debt — proposed after the Supreme Court struck down Biden’s first attempt — is expected to be finalized in October. This timing is in accordance with the department’s previously stated timeline to implement the relief this fall.
Additionally, the department has been working toward a separate student-debt relief proposal for borrowers…