Biden Withdraws Plan to Cancel Student Loan Debt For 38 Million Americans, Blames “Operational Challenges”

Joe Biden withdrew plans to cancel student loan debt for 38 million Americans and blamed “operational challenges.”

“In making this decision, we considered the Department’s ability to implement the proposed rules if they were finalized in a form identical or largely similar to what was included in the NPRM. With the time remaining in this administration, the Department is focused on several priorities including court ordered settlements and helping borrowers manage the final elements of...