The Biden administration is rolling out and attempting to expand student loan repayment options for borrowers. Democracy Forward President and CEO Skye Perryman sits down with Yahoo Finance Live to discuss the legal challenges to the Higher Education Act.
"This is a wall that has been in effect for some time. It provides clear authority for the Secretary of Education to waive or modify or compromise debt, which is what the president has announced the intent to do, and the secretary has announced the intent to do," Perryman explains."There will be some regulations and regulatory process... that has to take place before there is immediate relief here.
Perryman outlines the legal timeline and regulatory timelines for when borrowers could see relief from the Higher Education Act.
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