The Biden administration is moving ahead with a new path to student loan cancellation for Americans who face steep medical bills, child care costs and other types of financial hardship that prevent them from repaying their loans

The Biden administration is moving ahead with a new path to student loan cancellation for Americans who face steep medical bills, child care costs and other types of financial hardship that prevent them from repaying their loans.

Announced Friday, the proposed rule is President Joe Biden’s third attempt at student loan cancellation as he faces repeated legal challenges from Republican states. His first plan was rejected by the Supreme Court last year, and his second plan has been temporarily halted by a federal judge in Missouri.

The new rule would have to clear a number of hurdles before it becomes official, and it’s unclear if it could be realized before Biden leaves office in three months. Like Biden’s other loan forgiveness proposals, it could face court challenges from conservatives who say it’s unconstitutional and unfair.

If finalized, the new rule would allow the Education Department to proactively cancel loans for borrowers if the agency determines they have an 80% chance of being in default on their loans within two years. Others could apply for a review to determine if they meet the criteria for cancellation.

  • InverseParallax@lemmy.worldEnglish
    1·
    24 days ago

    So the sitting president shouldn’t be allowed to keep doing things they have been doing for years, just because it’s close to an election and someone unrelated might do something else after getting elected?

    And then Trump will pass out crazy rebates on redneck shit himself, or pass tax hikes on everyone he doesn’t think will vote for him (he hit me with SALT pretty bad, all blue states were hit).

    • SolarMonkey@slrpnk.netEnglish
      2·
      24 days ago

      He’s going to do that anyway, whether it’s allowed or not. His plan is to break the country by any means necessary. What actual difference does it make to trumps plans if Biden keeps doing his job until he’s not in that job anymore?

      The answer is none whatever.