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Biden pushes to finalize more student debt relief before end of term, including for 'future borrowers'

President Biden's Department of Education is trying to push through a new federal rule during the final weeks before President-elect Trump takes over to provide additional student loan forgiveness for 8 million borrowers who face financial hardships. 

The rule would also allow people, including potential "future borrowers," to apply for relief that will be awarded based on "a holistic assessment of the borrower’s hardship."

Negotiated rulemaking for higher education between 2023 and 2024 began last year, and this latest rule was discussed in committee as early as November 2023. However, the rule was not proposed until Oct. 31 and is working its way through a public notice and comment period expected to end Dec. 2.

Melissa Byrne of We the 45 Million speaks at a press conference outside the appeals court hearing where GOP attorneys general seek to block the income-based student loan repayment plan, SAVE, Oct. 24, 2024, in St Paul, Minn.  (Getty Images)

While a handful of Biden's previous attempts to wipe out student debt have been struck down as an overreach of power by the courts, and despite federal rulemaking typically taking anywhere from a few months to a few years to be completed, the Biden administration has not been dissuaded from initiating additional attempts to eliminate Americans' student loan debt during its final weeks.

President Biden speaks during an event in Madison, Wis., April 8, 2024.  (Getty Images)

In addition to the SAVE program, other efforts by the Biden administration to cancel student debt relief remain tied up in the courts.

President Biden  (Getty Images)

"They didn't even come close to getting student loans," Trump said during his debate with Vice President Kamala Harris in September, referring to the courts shooting down Biden's student debt forgiveness attempts. 

"They taunted young people and a lot of other people that had loans. They can never get this approved."

The White House did not respond with an on-the-record comment when reached by Fox News Digital.