The U.S. Department of Education said Thursday it will wipe away $5.8 billion in student debt for more than 320,000 borrowers.
- “We’ve heard loud and clear from borrowers with disabilities and advocates about the need for this change, and we are excited to follow through on it,” said U.S. Secretary of Education Miguel Cardona, in a statement.
Details of new student loan forgiveness
- The debt forgiveness will go to borrowers who have total and permanent disability.
- These borrowers will automatically be granted relief. The education department will use Social Security Administration data to figure out who will receive relief.
- Borrowers will see the relief show up in September.
Do you qualify?
NPR reports that only a small amount of people are getting the student debt relief that they are entitled to get under the Total and Permanent Disability Discharge program. In fact, some people still don’t know they qualify.
- The program is meant to help people who can no longer work because of their disabilities. Borrowers had previously needed to apply for the relief.