West Virginia (CNN)—More student loan borrowers will soon receive an email about potential debt relief.
The U.S. Department of Education says that starting today, roughly 25 million borrowers with at least one outstanding federally held loan will receive information via email.
Four groups are targeted in this latest effort:
- Borrowers whose debt has grown even though payments were made for many years — even decades.
- Students who took out undergraduate loans on or before July 1, 2005.
- Students who took out graduate loans on or before July 1, 2000
- Borrowers who qualify for debt forgiveness but never applied.
The Biden administration has sought solutions for borrowers saddled by student loan debt.
The U.S. Supreme Court shot down his initial plan.
This latest plan is expected to take effect in the fall, but regulations are not yet finalized, and adjustments could be made.
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