Millions of Americans are receiving notifications from the U.S. government regarding their eligibility for student loan forgiveness.

• The Biden administration is preparing to renew its attempt to relieve the student debt of millions of Americans, following the Supreme Court's rejection of its initial effort last year.
• The U.S. Department of Education has been instructed by the president to initiate the regulatory procedure.
• The Education Department will soon send emails to borrowers who may qualify for loan cancellation, the department announced on Wednesday.

The Biden administration is preparing to renew its attempt to forgive the student debt of millions of Americans, following the Supreme Court's rejection of its initial effort last year.

The U.S. Department of Education will soon start sending emails to borrowers who may qualify for loan cancellation, with the aim of providing relief in the fall, potentially before the 2024 presidential election.

U.S. Secretary of Education Miguel Cardona stated that the Biden-Harris administration is taking another step towards providing student debt relief to borrowers who have been neglected by a flawed system.

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The Education Department stated that borrowers who wish to opt out of debt forgiveness must do so with their loan servicer by Aug. 30.

Those who owe more now than they did at the start of repayment and those who have been paying on their loans for decades are likely to qualify for partial or full debt erasure.

On the same day that the Supreme Court thwarted President Biden's initial effort to provide student loan forgiveness, he declared that the White House would explore an alternative approach to deliver relief.

The president has directed the Education Department to pursue the regulatory process as his Plan B to cancel the debt, which experts say should increase its chances of surviving legal challenges.

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