December 2, 2022
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News on student loan relief coming soon, says Education Secretary Cardona

 

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Information regarding student loan relief is set to be revealed by the end of this month, Education Secretary Miguel Cardona said Sunday.

Millions of Americans could be forgiven for student loans under a draft plan being worked out at the Education Department, according to published reports.

But details remain up in the air.

“I don’t have a decision for you today,” Cardona said on CBS’ “Face the Nation.”

“But … I will tell you that daily, we’re having conversations about this, and the American folks will hear it before the end of the month.”

Under the draft plan, student debt relief could come automatically for several million borrowers within several months, Politico reported, while other borrowers could apply to qualify.

All kinds of federal student loans, including ones owned by private groups, would be eligible.

President Biden is yet to sign off on the measures.

Cardona also touted an existing debt relief program for educators to help address teacher shortages throughout the country.

“The Public Service Loan Forgiveness Program is up and running,” he said. “We provided a waiver for one year to widen the net of people that can take advantage of that.

“Unless we’re serious about providing competitive salaries for our educators, better working conditions … we’re going to constantly deal with shortage issues,” he said.

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