Biden administration relaxes rules for student debt forgiveness programs

Education Secretary Miguel Cardona called it a “monumental step” that will make it faster and simpler to get debt relief. “The Biden administration is fixing a broken system and putting borrowers first,” Cardona told reporters on Monday.

It’s a reversal from Trump-era policies that eliminated group discharges and made it harder for individuals to qualify for relief. The new rule cements the department’s ability to erase debt for thousands of borrowers in a single action, as the Biden administration has already done for those who attended ITT Tech, Corinthian Colleges and other for-profit college chains.

“The department has cut corners in a rush to ram through a punitive borrower defense rule with serious legal and regulatory flaws that could undermine the American education system,” said Jason Altmire, a former Democratic congressman and president and CEO of Career Education Colleges and Universities.

The new rule erases the 15-day rule, allowing payments to count even if they are made late or in multiple installments. It also allows borrowers to make up to a year of payments in advance in a single sum, rather than making monthly payments.

This is quite literally fascism

Attention Trump University students! This is meant for you!

Walkaway FJB

Duped?

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Biden administration relaxes rules for student debt forgivenessThe new rules take hold in July and are separate from President Joe Biden's sweeping student debt forgiveness plan, which has been held up in court. FJB
Source: wrtv - 🏆 598. / 51 Read more »

Biden admin relaxes rules for student debt forgivenessThe Biden administration is moving forward with an overhaul of several student debt forgiveness programs, aiming to make it easier for borrowers to get relief if they are duped by their colleges or if they put in a decade of work as public servants. The Education Department on Monday finalized a package of rules that it proposed earlier this year. The new rules take hold in July and are separate from President Joe Biden’s sweeping student debt forgiveness plan, which has been held up in court amid a legal challenge from Republican-led states. I hope the students out realize this isn't going through.
Source: YahooNews - 🏆 380. / 59 Read more »

Biden administration relaxes rules for student debt forgiveness programsThe new rules aiming to make it easier for borrowers to get relief if they are duped by their colleges or if they put in a decade of work as public servants take hold in July, and are separate from President Joe Biden’s sweeping student debt forgiveness plan. Duped? Walkaway FJB Attention Trump University students! This is meant for you!
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