News Report | September 7, 2021
U.S. Department Of Education To Erase $5.8 Billion In Student Loans For Those With Severe Disabilities
On August 19, 2021, the U.S. Department of Education (ED) enacted a regulation that will eliminate more than $5.8 billion in the federal student loan debt owed by borrowers eligible for total and permanent disability (TPD) discharge, and who are receiving Social Security Disability Insurance (SSDI) benefits or Supplemental Security Income (SSI). The change will apply to borrowers who are identified through an existing data match with the Social Security Administration (SSA), and ED estimates that approximately 320,000 eligible borrowers will be identified in that data match.
This debt forgiveness will begin with the September quarterly match . . .