Overview

• Nearly 60,000 student loan borrowers eligible for forgiveness under the Sweet v. Cardona lawsuit are still awaiting debt relief, despite promises from the Education Department.
• The lawsuit promised debt forgiveness to around 200,000 borrowers misled by for-profit schools, with the federal government committing to cancel all plaintiffs' debt.
• Delays in debt relief are attributed to complex loan histories, unavailable payment records, and processing across multiple servicers, with only 69% of eligible borrowers having received full forgiveness.
• The Education Department acknowledges the breach of its obligations and is working to resolve the issues, with an updated timeline for relief expected by March 1.
• President Biden emphasizes the economic benefits of student debt relief and continues to advocate for additional forgiveness measures amid ongoing delays.