The Biden administration this week announced that it has cancelled $7 billion in federal student loan debt through a data-sharing initiative between the Education Department and Social Security Administration.
... [+]The Biden administration this week announced that it has cancelled $7 billion in federal student loan debt through a data-sharing initiative between the Education Department and Social Security Administration that was first announced last year. Here are the details.The Total and Permanent Disability discharge program can wipe out the federal student loan debt for borrowers who are unable to maintain substantial, gainful employment due to a medical impairment.
Previously, the TPD discharge regulations mandated that borrowers submit a formal discharge application certifying that they met the eligibility requirements of the TPD program through proof of a military service-connected disability, a signed physician’s certification form, or proof of receiving Social Security disability benefits with a benefits review period of at least five to seven years.
Today, the administration announced that through this data sharing initiative, the Education Department has cancelled approximately $7 billion in federal student loan debt for 350,000 borrowers.
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Biden Administration Cancels $7 Billion In Student Loans Through Data-Sharing InitiativeThe Biden administration this week announced that it has cancelled $7 billion in federal student loan debt for 350,000 borrowers through a data-sharing initiative between the Education Department and Social Security Administration. Here are the details.
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