The Biden administration has withdrawn two major plans to deliver student loan forgiveness. The proposed regulations would have allowed the secretary of the U.S. Department of Education to cancel student loans for several groups of borrowers, including those who had been in repayment for decades and others experiencing financial hardship.

The two loan forgiveness plans would have created pathways to student debt relief for broad swaths of student loan borrowers, including those who have experienced runaway balance growth due to interest accrual,