"With the time remaining in this administration, the Department is focused on several priorities including court ordered settlements and helping borrowers manage the final elements of the return to repayment."
"The Biden administration dropping these proposed plans feels like a big loss, but the immediate relief these plans promised was still a long way off," NerdWallet lending expert Kate Wood told Axios.
"The proposals being withdrawn shouldn't have an immediate effect on borrowers, though it's certainly a big disappointment for those who believe they would have qualified for forgiveness under these plans," she added.
"The Biden administration managed to dole out nearly $180 billion in student debt relief to 4.9 million people through various actions, despite the Supreme Court blocking his sweeping debt cancellation plan last year."
#student-debt-relief #biden-administration #education-department #income-driven-repayment #loan-forgiveness
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