Biden to Give Millions of Student Borrowers a Fresh Start

“The Biden administration has created a plan to bring 7.5 million Americans in default on their federal student loans back into good standing, restoring their eligibility for financial aid and removing the incident from their credit history,” the Washington Post reports.

“Anyone now in default on a federal loan made directly by the department, Perkins loans held by the agency and old bank-based debt held by the department or private companies, is eligible for the program. Their eligibility for federal Pell grants, work-study and loans will be reinstated.”