A major shift in US education policy is underway as the Department of Education begins fast-tracking student-loan forgiveness for millions of borrowers enrolled in income-driven repayment plans.

The initiative, revived under new White House directives, aims to correct years of administrative delays, paused programmes and legal roadblocks.

A major shift in US education policy is underway as the Department of Education begins fast-tracking student-loan forgiveness for millions of borrowers enrolled in income-driven repayment plans.

The initiative, revived under new White House directives, aims to correct years of administrative delays, paused programmes and legal roadblocks.

With interest waivers and accelerated review timelines now in motion, borrowers across the country are scrambling to check whether they’re on the list for early cancellation.

What’s Changing in the New Student Loan Relief Plan

After a turbulent period marked by lawsuits and a 2023 United States Supreme Court ruling that halted broad forgiveness proposals, student debt relief is once again moving forward….

Public sector bank chiefs were on Tuesday advised by Department of Financial Services (DFS) Secretary M Nagaraju to personally monitor the top twenty cases pending for admission and the top ten accounts awaiting resolution before the National Company Law Tribunal (NCLT), as part of a wider review of delays in insolvency matters.

In a press release, DFS said Nagaraju chaired a meeting with senior officials of the department, the Insolvency and Bankruptcy Board of India and top management of public sector banks to review issues related to pending cases under the Insolvency and Bankruptcy Code (IBC). Progress in cases admitted and resolved at the NCLT, as well as matters disposed of outside the IBC, was acknowledged, while major cases…

A new dedicated taskforce is being created to target rogue directors setting up new firms from the ashes of their failed ones to avoid repaying debts.

Under a raft of measures to tackle fraud announced in the Autumn Budget, chancellor Rachel Reeves said she will give the Insolvency Service an extra £25m over the next five years.

The funding will be used to create a new Abusive Phoenixism Taskforce staffed by 50 people investigating suspicious company insolvencies.

The team will target phoenixism ─ which happens when a business becomes insolvent and a new one, with the same directors, is created shortly after, often leaving unpaid debts.

Dave Magrath, director of investigation and enforcement services at the Insolvency Service, said:…

Accounting network UHY Hacker Young partner Peter Kubik has called the new Insolvency Service taskforce targeting rogue directors as “a welcome first step but it’s not a quick fix.” 

In the Autumn Budget 2025 presented by Chancellor Rachel Reeves, it was outlined that the government will allocate £25m…

But employees in the UK do have rights and routes to recover the money they are owed. 

If a company becomes insolvent, an appointed insolvency practitioner takes control.

They are responsible for managing the company’s remaining money and assets, and for paying creditors where possible.

Employees are classed as “preferential creditors,” meaning they are near the top of the list for repayment. 

Anyone who has lost their job without being paid should first contact the insolvency practitioner to register as a creditor.

You can usually find their details in the formal notice of insolvency or on the government’s Insolvency Register. 

The Redundancy Payments Service (RPS), run by the Insolvency…