, the latest step into lessen the burden for millions of adults struggling to repay their debts.
The Education Department said Thursday it will automatically discharge loans for borrowers with total and permanent disabilities by matching borrower files with Social Security Administration records. A similar policy has been in place since 2019 for those deemed disabled via the Department of Veterans Affairs. Borrowers found to have total and permanent disabilities are generally limited in their ability to work and to repay the loans.
The government will also stop asking such borrowers to provide earnings records going forward; currently, failure to respond can lead to loans being reinstated. A 2016 report by the Government Accountability Office found that 98% of reinstated discharges were due to borrowers not submitting documentation, not because borrowers’ earnings were too high.
“We are working to improve targeted loan relief and help our borrowers,” said Education Secretary Miguel Cardona, adding that a goal of the department is to simplify the process for borrowers seeking debt relief.from fellow Democrats and activists to cancel most of America’s roughly $1.6 trillion in federal student-loan debt via executive action. Congressional Republicans would likely block efforts to pass similar measures.
That is the least they could do.
I’m unsure of the details, but this program has always been in place. If you were paying on your student loans and become disabled, the DOE usually discharged your debt after three years of disability. Maybe that process is being accelerated. 1/2
Teaching young people to repay their debts
Ask China to wipe out our national debt
You don’t just “wipe out “ student loans . It doesn’t just magically disappear! Some has to pay for it ! And that some is you and me . Taxes over taxes !
Sounds too high
The Biden Administration be like this to student loan debt:
Bullshit. There will be corruption in this program.
aND WHO PICKS UP THE COST? of course once again it is we the people
Socialism work.
Trump had the same power but he used it on his taxes 😂😂😂
Jobama printing money. Inflation only hurts the little people who have worked and saved their entire lives only to see their savings are worthless
Charge it back to the DNC.
What a mess, whatever happened to personal responsibility. Any federal government spending will end in fraud and wasted money.
Yet another bad call from the Biden Admin.
A responsible approach rather than a blanket cancellation. Need to review the whole system, including role of colleges, before giving any relief.
wow look how easy that was
Buying votes isn't gonna have this illegitimate regime.
This has always been a clause it's the 1st thing they ask you.. I'm so tired of this Government and the media that covers for them😢
Awesome - now do it for all
So we have 323,000 people who received student loans and became permanently disabled after leaving school? Just trying to understand parameters.
Buying votes.....