The Department of Education will soon take new actions to tackle student debt and address longstanding issues with paying off federal student loans, Axios has learned.
In the next few weeks the department will provide more defrauded borrowers with debt relief, similar to
And though the department would not provide specific details, it plans to introduce a rule to change the way income-driven repayment plans have been administered, which will impact borrowers retroactively as well as those who borrow in the future.These actions are meant to address underlying issues that have piled up in the last decade, making the path to debt relief a long and tedious process.
Errors and abuses by servicers hired by the Education Department often prevent borrowers from properly utilizing the program, the report noted.
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