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Home ED Has Drafted Plans to Carry Out Student Loan Debt Cancellation, According to New Report

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ED Has Drafted Plans to Carry Out Student Loan Debt Cancellation, According to New Report

By Hugh T. Ferguson, NASFAA Managing Editor

The Department of Education (ED) has drafted plans to implement broadscale student loan debt cancellation should President Joe Biden decide to approve such a policy, which has been teased since the 2020 presidential campaign, according to an internal memo.

The document, first reported by POLITICO, provides details being considered by top ED officials over how the agency would go about implementing cancellation, how it would be automated, and what preparations the department is taking to communicate with borrowers before a potential announcement.

According to the report, no final decision has been made on how the relief would be structured or if the president is prepared to make such a decision. The internal communications also express concerns over a number of implementation issues, as well as “efforts to minimize legal risk” that could seek to challenge this use of executive authority.

Publication Date: 7/29/2022

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ED Has Drafted Plans to Carry Out Student Loan Debt Cancellation, According to New Report

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