"Biden Administration's Expanded Student Debt Relief Targets Borrowers in Hardship"

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Source: POLITICO
"Biden Administration's Expanded Student Debt Relief Targets Borrowers in Hardship"
Photo: POLITICO
TL;DR Summary

The Biden administration has expanded its plans to automatically cancel student debt for Americans experiencing financial hardship, proposing a one-time debt relief program that would discharge loans for borrowers at high risk of default. The proposal outlines factors such as household income and loan repayment history to determine hardship, and will be debated in a public hearing next week. This move comes after the Supreme Court struck down Biden's previous attempt to cancel a large amount of student debt, and the administration is aiming to be as expansive as possible within legal limits while expecting legal challenges.

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