"Biden Administration Takes Aim at Student Loan Debt: A New Era of Federal Management Looms In a significant shift in the nation's approach to higher education financing, the Biden administration has unveiled a three-phase transition plan to take control of the management of most federal student loans. This move marks a major departure from the Trump administration's approach, which had previously sought to privatize the Free Application for Federal Student Aid (FAFSA) process. Under the new plan, the federal government will oversee the entire student loan process, from the initial application to loan forgiveness and repayment. With millions of Americans struggling to pay off student loan debt, the Biden administration's move is seen as a major step towards making higher education more accessible and affordable for all."
The Trump administration announced a three-phase transition that will eventually include management of most federal student loans as well as the Free Application for Federal Student Aid (FAFSA).