If you have student loan debt, check your email, officials say

The U.S. Department of Education announced Wednesday it will send out emails to student loan borrowers on the status of loan forgiveness and to let them know they have until Aug. 30 to opt out of the program. 

The details of the loan forgiveness have not yet been finalized.  If the rules are finalized as proposed, the program could provide relief to 25 million people, according to the Biden administration. They include borrowers who owe more now than they did at the start of repayment, borrowers who have been in repayment for decades, borrowers who are otherwise eligible for loan forgiveness but have not yet applied, and those who are enrolled in low-financial value programs. 

However, the program has been challenged in court. 

“Today, the Biden-Harris administration takes another step forward in our drive to deliver student debt relief to borrowers who’ve been failed by a broken system,” said U.S. Secretary of Education Miguel Cardona in a statement. “These latest steps will mark the next milestone in our efforts to help millions of borrowers who’ve been buried under a mountain of student loan interest, or who took on debt to pay for college programs that left them worse off financially, those who have been paying their loans for twenty or more years, and many others.” 

This article was originally published by EdSource here.