Biden’s Backup for Student Loan Relief Likely to Take a Year

Nearly a year after President Biden first pledged to forgive up to $20,000 in student loans per borrower and less than a month after the Supreme Court struck down that plan, the Education Department is again trying to provide relief. But this second attempt will take longer—at least 12 months—several experts said, and involves a complicated regulatory process known as negotiated rule making. And any end result could still be subject to a legal challenge.