The Biden administration has withdrawn two major plans to deliver student loan forgiveness.
The proposed regulations would have allowed the secretary of the U.S. Department of Education to cancel student loans for several groups of borrowers, including those who had been in repayment for decades and others experiencing financial hardship.
The combined policies could have reduced or eliminated the education debts of millions of Americans.
The Education Department posted notices in the Federal Register on Friday that it was withdrawing the plans, weeks before President-elect Donald Trump enters the White House.
The department wrote that it was terminating the rulemaking proceeding due to “operational challenges in implementing the proposals.” It said it would “commit its limited operational resources” in these final weeks of the administration “to helping at-risk borrowers return to repayment successfully.”
The Education Department did not immediately respond to a request for comment.
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