The Biden administration announced its next moves toward student loan forgiveness on Friday, pointing toward a more narrowed effort so far than the mass debt relief it previously offered. The Department of Education announced months ago it is going through the negotiated rulemaking process under the Higher Education Act to try to enact more student loan relief. The department has released its “initial set of policy considerations” for the new plan, focusing on “student loan borrowers in need.” There are five groups the administration is looking at for its new debt relief: borrowers who entered repayment decades ago, whose balances are greater than what they originally owed, who
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