The Department of Education announced on Monday it will recancel more than 41,000 student loans issued during the pandemic to disabled individuals who didn’t submit the required paperwork to track their income. “Borrowers with total and permanent disabilities should focus on their well-being, not put their health on the line to submit earnings information during the COVID-19 emergency,” Education Secretary Miguel Cardona said in a statement. “Waiving these requirements will ensure no borrower who is totally and permanently disabled risks having to repay their loans simply because they could not submit paperwork.” The Total and Permanent Disability (TPD) discharge program relieves loans for students who have been totally and permanently disabled for five or more years, or will be for five or more years, in a way that negatively impacts their earnings from employment. The program was first offered in July 2013. Borrowers who have their loans canceled are subject to a three-year monitoring period. During this time, they must provide their earnings information …
Education Department Waives $1.3 Billion in Disabled Student Loans Reinstated During Pandemic
March 29, 2021
admin
0 Comment