8 Hardships Could Qualify For New Biden Student Loan Forgiveness Plan Automatically

At President Joe Biden’s direction, a new student loan forgiveness plan is currently under development. And financial hardships could ultimately become a basis for receiving automatic relief.

After Biden’s first student debt relief initiative was rejected by the Supreme Court last summer, he directed the Education Department to quickly start creating a new program using a different legal authority. Since then, the department has been engaged in a rulemaking process to establish regulations governing this new loan forgiveness plan. The process involves a committee of stakeholders which holds a series of public meetings while they try to find consensus.