Biden Announces New Rules to Make Millions More Eligible for Student Debt Relief

President Joe Biden announced new rules on July 31 that make millions more borrowers eligible for student loan debt relief.

“Today, my Administration took another major step to cancel student debt for approximately 30 million Americans,” Biden said.

“We won’t stop fighting to provide relief to student loan borrowers, fix the broken student loan system, and help borrowers get out from under the burden of student debt.”

Starting on Aug. 1, the Education Department will send emails to all borrowers with at least one outstanding federal student loan with updates on potential debt relief and a notice of the Aug. 30 deadline to call and opt out if they are not interested in the program. The email does not guarantee eligibility.

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