Education Department says that a subset of federal student loans owned by private lenders no longer qualify for relief.
By Michael Stratford, Politico
The Biden administration is scaling back its debt relief program for millions of Americans over concerns about legal challenges from the student loan industry as well as a new lawsuit from Republican-led states.
In a reversal, the Education Department said on Thursday it would no longer allow borrowers who have federal student loans that are owned by private entities to qualify for the relief program. The administration had previously said those borrowers would have a path to receive up to $10,000 or $20,000 of loan forgiveness.
The policy change comes as the Biden administration this week faces its first major legal challenges to the loan forgiveness program, which Republicans have railed against as an illegal use of executive power that is too costly for taxpayers.
Recent Posts
Congress Must Investigate War Profiteers Once Again
Take Action Now Ninety years after the original Nye Committee exposed the arms industry’s corruption, the Pentagon and its contractors are bigger,…
Christa Pike Hospitalized in Critical Condition After Botched Execution
Take Action Now “I’ve never seen anything like what we saw Wednesday night,” said one reporter who witnessed the execution attempt.By Amy Goodman,…
Rights, Faith Groups Urge Congress to Block $2.8B Bomb Sale to Israel
Take Action Now If the Trump administration moves forward with the transfer, dozens of groups are urging lawmakers to seek a joint resolution of…
Trump’s Finger Gets Closer to Nuclear Button
Take Action Now Not that Congress caresBy Ken Klippenstein, Substack The Pentagon is “increasing [nuclear] options available to the President for…