Department of Education releases new regulations revamping student loan relief programs

Keyboard with student loan repayment key

(Image credit: Peter Dazeley/Getty Images)

published 31 October 2022

The Department of Education on Monday released a final set of new regulations for its student loan programs, which roll back a number of changes made during the Trump administration and will reduce the amount owed by many borrowers, The New York Times reports.

"The regulations announced today will streamline a needlessly complicated system and give borrowers a simpler and more often automatic path to the discharges they deserve," said Education Department Under Secretary James Kvaal.

According to the Education Department, the new regulations will "expand eligibility, remove barriers to relief, and encourage automatic discharges for borrowers who are eligible for loan relief." The news comes as President Biden's student loan relief plan, which would cancel up to $20,000 in student debt for millions of Americans, faces legal trouble. Though the application is open, many are unsure whether their debt will actually be forgiven, the Times continues.

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Devika Rao has worked as a staff writer at The Week since 2022, covering science, the environment, climate and business. She previously worked as a policy associate for a nonprofit organization advocating for environmental action from a business perspective.

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