The new regulations are a part of broader efforts by the administration to make improvements to the student loan system. They come after the White House announced last month it would forgive $6 billion in student loans for some 200,000 borrowers who sued the government in 2019 over claims they were defrauded by their colleges—nearly all of which were for-profit schools—as a part of a settlement agreement. The updated rules also come as the Biden administration is under mounting pressure to take a much bigger step to address student debt relief by forgiving a much larger amount of loans for all federal borrowers. Biden told reporters two weeks ago he was close to reaching a decision on federal loan forgiveness, and reportedly may cancel $10,000 for all borrowers who earn less than $150,000 a year.