Two new student debt relief programs from Biden barrel toward imminent release

As the Biden administration enters its final days, two new student debt relief programs face imminent release as they undergo final review before formal implementation.

The two programs include a second attempt at providing sweeping student loan forgiveness for millions of borrowers under the Higher Education Act, known colloquially as "Plan B," which comes after federal courts ruled that the Biden administration's initial attempt at providing broad-based student loan forgiveness via executive action was unconstitutional. The second program, focused on people facing financial hardships, seeks to provide student debt relief for millions more.

The two programs were submitted for review to the Office of Management and Budget as of Tuesday, one of the final steps before the policies are formally published in the Federal Register.

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