The relief is targeted at people who enrolled in income-driven repayment (IDR) plans, which allow student loan debts to be forgiven by the federal government once payments have been made for 20 or 25 years, depending on the plan.
But because of well-documented errors in tracking payments, many borrowers enrolled in IDR plans have been left paying well beyond their payment end dates, with no forgiveness in sight.
Let’s read that again. No changes in policy are happening, the Biden administration is literally just applying the literal basic terms of the already-on-the-books-and-already-lawful repayment plan to nearly a million people who were supposed to have their debts forgiven already.