From USA Today: “The administration is leveraging the country’s primary higher education law to write a regulation that will allow the government to cancel some student debt. … The process … is called negotiated rulemaking, ‘neg reg’ or ‘reg neg.’ … ‘Debt forgiveness coming out of the president’s campaign promise is not going to happen anytime soon,’ said Alison Griffin … a former adviser to the chair of the U.S. House Education and the Workforce Committee. That’s because rulemaking generally adheres to a rigid schedule. Usually it takes weeks or even months to figure out who will be on the committee, along with a set of backup negotiators. Then they have to meet a few times, and those meetings are several weeks apart.”
graduates holding piggy banks saving concept
