President Joe Biden.MANDEL NGAN/AFP via Getty ImagesBiden released the draft text for his new student-loan forgiveness plan.Borrowers will have a 30-day public comment period to provide feedback on the proposals.The Education Department aims to begin implementing the relief as early as this fall.Millions of student-loan borrowers are moving closer to President Joe Biden's new plan for debt cancellation.On Tuesday, the Education Department released its first set of draft rules for Biden's second attempt at student-debt relief after the Supreme Court struck the first plan down.The regulatory text comes after Biden unveiled details of the plan last week, which included up to $20,000 in debt relief for borrowers with unpaid interest and relief for those who have made at least 20 years of payments.

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BING NEWS:
  • Student loan forgiveness: What you need to know before April 30
    You could have a chance for a full cancellation of your federal student loan debt, but you might have to consolidate your loans by Tuesday.
    04/28/2024 - 2:29 pm | View Link
  • Biden's new plan for student-loan forgiveness is entering its next key stage — and millions of borrowers will have a say on what the relief looks like
    Biden's administration released its first set of draft rules for its new student-loan forgiveness plan, and borrowers have 30 days to comment on them.
    04/16/2024 - 1:45 am | View Link
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