this post was submitted on 26 Jun 2023
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Politics
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I'm not sure what could be done. It's an executive order, not a bill, and it's scope is fairly limited. It doesn't create any new powers, just uses what's outlined in the HEROES Act to reduce the burden of student loans. Since it's an executive order the next President could revoke it, but the cancelled amounts can't be brought back so that would just wipe away the changes to how interest is handled.