A student loan forgiveness update will be rolled out in the next week by the Biden administration, coming less than 100 days before the presidential election.
Emails will be sent to millions notifying them they could qualify for debt relief under the enhanced program, along with an opportunity to opt out if they want.
An Education Department announcement made clear what is on offer, with U.S. Secretary of Education Miguel Cardona declaring:
Starting tomorrow, the U.S. Department of Education (Department) will begin emailing all borrowers with at least one outstanding federally held student loan to provide updates on potential student debt relief.
Today, the Biden-Harris administration takes another step forward in our drive to deliver student debt relief to borrowers who’ve been failed by a broken system.
The Biden-Harris Administration made a commitment to deliver student debt relief to as many borrowers as possible as quickly as possible, and today, as we near the end of a lengthy rulemaking process, we’re one step closer to keeping that promise.
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