Very big update coming for student loan forgiveness. Biden administration relaxes rules for this plan. Here is full detail
This new rule will make this plan faster and simpler to get debt relief.
The new rules will be implemented in July and it is totally separate from President Joe Biden’s sweeping student debt forgiveness plan
The big change from this new rule is a revamp of a program known as borrower defense. it will offers debt forgiveness to students whose colleges make false advertising claims or commit fraud with students
Due to this new rule government will also be able to force colleges to cover the cost after fraud.
New rule will be allow agency to go after shady colleges which leave students with more debt and useless degrees.
There is also a changes to Public Service Loan Forgiveness program. This new rule end the 15-day rule, allowing payments to count even if they are made in multiple installments for teachers, nurses and other public workers
This new rule will eliminate the monitoring period for disable persons who are eligible for this benefits