Share to Twitter Share to Linkedin The Biden administration is preparing to move forward with a process to enact potentially sweeping changes to key federal student loan forgiveness, repayment, and relief programs. The U.S. Department of Education released draft proposals for reforms to federal student loan programs as part of negotiated rulemaking, which is a process to rewrite governing federal regulations. The Department has also finalized the negotiated rulemaking committee, which is made up of key stakeholders who will work together to find consensus over the course of multiple rounds of public hearings. The proposals were initially released by POLITICO. The administration's proposals call for significant changes to a number of federal student loan programs. Reforms to Total and Permanent Disability (TPD) Discharges For Federal Student Loans The Total and Permanent Disability (TPD) discharge program cancels the federal student loan debt for disabled borrowers. The Department is proposing several reforms: Eliminate post-discharge monitoring . Under current law, borrowers must report their employment status and employment earnings for three years following their TPD discharge. If they don't respond, or if they earn too much, the discharged loans can be reinstated. The Biden administration recently eliminated the monitoring period temporarily through executive… Read full this story
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