U.S. Sen. Patty Murray (D-WA) recently led 22 of her colleagues in urging the U.S. Department of Education to expand its student debt relief loan repayment and forgiveness program initiatives.
The group forwarded correspondence to Secretary of Education Miguel Cardona regarding the matter, outlining requests for income-driven repayment (IDR) and Public Service Loan Forgiveness (PSLF) program enhancements while also advocating measures ensuring borrowers who have attended a school that has closed or have total and permanent disabilities can access the debt forgiveness.
“We write in support of the U.S. Department of Education’s regulatory agenda to provide relief to federal student loan borrowers,” the legislators wrote. “As part of the upcoming negotiated rulemaking process, we encourage the Department to pursue policies that reduce disparities in the burden of student debt, simplify loan repayment, close donut holes in forgiveness programs, and improve the overall confidence of borrowers in the federal student loan system.”
The lawmakers maintain it is best to consider implementing the rules early to provide expedient relief.
“The rules governing student loan borrower repayment and forgiveness programs will help to provide additional relief to struggling borrowers and close gaps in how these programs currently operate,” the lawmakers concluded. “These regulatory enhancements will also help build borrowers’ confidence in the federal student loan program’s efforts to put higher education within reach for more students, rather than creating complex or burdensome requirements that stop students from accessing or pursuing educational opportunities.”