Biden administration aims for new student loan relief plan in 2024

After the Supreme Court struck down a federal student loan forgiveness program designed to erase the debts of more than 40 million borrowers, the Biden administration is now just one step away from finalizing a rule to replace it. U.S. Education Secretary Miguel Cardona says the rule is going through the negotiated rule making process slowly but expects it move forward this year. The proposal is under review at the Office of Management and Budget, the final step before it can be released for comment. "We're being as aggressive as possible,” said Cardona. The proposal is designed to help a large number of borrowers, not already covered by smaller, existing loan forgiveness programs. Details: https://ktla.com/news/washington-dc-bureau/biden-admin-aims-for-new-student-loan-relief-plan-this-year/