Attorney General Raoul Calls on Department of Education to Help Federal Student Loan Borrowers with Debt Relief, Featured in Chicago Hispanic Newspaper, Lawndale News

Attorney General Kwame Raoul and a coalition of 18 attorneys general are pushing for the swift implementation of new regulations by the U.S. Department of Education to provide relief for heavily burdened student loan borrowers. The proposed regulations aim to waive or reduce student loan repayments for certain groups of federal student loan borrowers who have been disproportionately affected by the nationwide student debt crisis.

Specifically, the regulations target borrowers who have seen their student loan balances skyrocket due to accrued and capitalized interest, as well as borrowers with older loans who have been impacted by the misconduct of student loan servicers. Additionally, relief will be provided to borrowers who attended schools that failed to meet their obligations to students, resulting in a lack of value for the education they were promised.

Furthermore, the regulations will assist borrowers who would have been eligible for relief under other federal student loan programs, such as income-driven repayment plans and the Public Service Loan Forgiveness Program, but have faced challenges navigating the complex federal loan repayment system.

Raoul and the coalition emphasize the critical need for meaningful debt relief to address the financial burdens faced by low-income borrowers and borrowers of color. By advocating for these regulations, they aim to provide much-needed support to those who have been struggling under the weight of their student loan debt.