After the Supreme Court struck lanugo the student debt receipt plan, President Biden announced he would pursue an volitional pathway to provide debt relief to borrowers. The new tideway involves using validity under the Higher Education Act, the federal law that governs the federal student loan programs, to provide debt relief to borrowers.
President Biden stated that this tideway will take longer than his prior plan, which used a national emergency validity considering the Department of Education will go through a longer legal process to develop the debt relief plan rules while seeking public input withal the way. This process is tabbed “negotiated rulemaking,” and it typically takes several months and often a year or more. The new debt relief plan that will be ripened through this process could be similar to the prior plan or could be quite different. Borrowers can and should share what they think should be included in a debt relief plan this time around.
The Department of Education began the negotiated rulemaking process by inviting the public to submit written comments on debt relief or to speak in a virtual hearing. Anyone who is interested in the topic of debt relief and what the government should do well-nigh debt relief–including student loan borrowers–should consider submitting a scuttlebutt or requesting to speak. You can submit a scuttlebutt sharing your student loan story, why debt relief is important, or thoughts on what you think the government should do well-nigh debt relief online here by July 20, 2023. If you want to speak at the virtual public hearing on July 18, 2023, you should email negreghearing@ed.gov no later than noon, Eastern time, on July 17. The message should include your name, the topics you plan to address, and what times you are misogynist to speak. Speakers selected will get 4 minutes to speak.
This public scuttlebutt period is only the first step in the negotiated rulemaking process. Next, the Department will seek nominations for people to serve on a rulemaking committee and will select committee members. The Department will then present proposals to the committee to discuss and vote on. After the committee meetings, the Department will publish a proposed rule that the public can read and scuttlebutt on. Finally, the Department will publish a final debt relief rule.
The orchestration unelevated summarizes each phase of the negotiated rulemaking process.
The post Pres. Biden Announces New Student Debt Relief Effort After Court’s Decision appeared first on Student Loan Borrowers Assistance.
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