A new Freedom of Information Act request has revealed a heavily-redacted memo on the president’s legal authority to cancel student loans unilaterally. The seven-page memo is titled “The Secretary’s Legal Authority for Broad-Based Debt Cancellation,” is addressed to U.S. Secretary of Education Miguel Cardona, is written by the acting general counsel of the U.S. Department of Education, and is dated April 5, 2021. Here’s what happened and here’s what it means for your student loans.
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