Biden Cancels $5.8 Billion Of Student Loans
with a total and permanent disability. This new regulation will enable the Biden administration to cancel more student loans through automatic discharges for student loan borrowers who are identified through an administrative data matching process and by removing the burdensome requirement of completing an application to get student loan forgiveness. President Donald Trump removed the application requirement in 2019 for student loan borrowers who matched for a TPD discharge with the U.S.
The Education Department will stop sending automatic requests for income information, including after the end of the Covid-19 pandemic; This extends an existing practice enacted in March 2021 for the duration of the Covid-19 pandemic; and During the negotiated rulemaking that starts in October, the Education Department will propose completely eliminating the three-year earnings monitoring period.Biden has been moving aggressively to cancel student loans, including for student loan borrowers who have been
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