Biden Announces New Rules to Make Millions More Eligible for Student Debt Relief

The proposed rules, if finalized, would bring the total number of borrowers eligible for debt forgiveness to more than 30 million to date.

President Joe Biden, joined by Education Secretary Miguel Cardona, speaks about student loan debt in the Roosevelt Room of the White House on Aug. 24, 2022. Alex Wong/Getty Images

President Joe Biden announced new rules on July 31 that make millions more borrowers eligible for student loan debt relief.

“Today, my Administration took another major step to cancel student debt for approximately 30 million Americans,” Biden said.