4 Ways Biden’s New Student Loan Repayment Plan Could Help Borrowers

Though this new plan has the potential to help many borrowers, it’s too early to get excited about any specifics. The Education Department still needs to release formal proposed regulations, which then go out for public comment and could go through several rounds of revisions.

“This is all speculation because we don’t even have a draft,” said Betsy Mayotte, president and founder of The Institute of Student Loan Advisors (TISLA). “So a whole lot can change.”