Biden scraps debt relief plans, other regs

President Biden has so far forgiven $180 billion in student loans for 4.9 million borrowers. Much more relief is unlikely now. Andrew Caballero-Reynolds/AFP via Getty Images The Biden administration’s ambitious plans to provide debt relief for millions of Americans is officially dead along with a number of other proposed regulatory changes. The administration said Friday…

Biden scraps debt relief plans

President Biden has so far forgiven $180 billion in student loans for 4.9 million borrowers. Much more relief is unlikely now. Andrew Caballero-Reynolds/AFP via Getty Images The Biden administration’s ambitious plans to provide debt relief for millions of Americans is officially dead. The administration said Friday it’s withdrawing two debt relief proposals from consideration. The…

Biden to Withdraw Broad Student-Debt Relief Plans for 38M Borrowers

Biden’s administration posted notices to withdraw its broader student-loan forgiveness plans. The Education Department wrote that it still stands by the legality of the debt relief among lawsuits. The plans aimed to cancel some student debt for over 38 million borrowers. President Joe Biden’s administration has officially scrapped its unfinished rules for broad student-loan forgiveness.…