President Joe Biden is making a last-ditch effort to release federal student loan borrowers from their debts. 

Fox News reports that he is doing so through the U.S. Department of Education.

Biden has been attempting to cancel federal student loan debt, essentially, since he took office, some four years ago. He has faced many legal setbacks, because it turns out that the President of the United States probably does not have the power to forgive loan debt unilaterally.

This, however, has not stopped Biden from trying.

The latest

According to Fox News, "The Department of Education announced an interim final rule this month to extend the deadline for student loan borrowers to enroll in long-term pay-over-time programs."

The outlet goes on to provide more details.

It continues:

The provision would amend the Income Contingent Repayment (ICR) to extend the deadline for borrowers to enroll in ICR or Pay-As-You-Earn (PAYE), a program which cancels all student debt for borrowers after 20 years of on-time payments. The enrollment deadline would be extended by three years, from July 2024 to July 2027.

This is part of Biden and the Democrats' attempt to fulfill their 2020 election promise. The reader may remember that Biden, as a presidential candidate, vowed to forgive federal student loan debt if elected president.

Biden, however, has run into roadblocks in the form of the federal courts. Biden has made several attempts to bypass the courts on this issue, but these attempts, by and large, have been unsuccessful.

Background

This is not the only move that the Biden administration has made in recent months regarding federal student loans.

Fox reports:

The announcement comes just weeks after the Biden administration put forward an additional new rule, that, if finalized, would authorize student debt forgiveness on a one-time basis for people who the department considers to have at least an 80% chance of defaulting on loans based on a "predictive assessment using existing borrower data."

There is still more. The outlet reports, "Also in October, the administration announced plans to remove $4.5 billion in debt for more than 60,000 borrowers who work in public service."

Nothing, however, is set in stone. It is very possible - and even likely - that the Trump administration may change this when it takes over in a couple of months.

The Democrats, no doubt, are aware of this, and it is likely that they will try to politically capitalize on any attempts made by the Trump administration to stop this student loan program.