LONDON, ENGLAND - JULY 15: Students throw their caps in the air ahead of their graduation ceremony at the Royal Festival Hall on July 15, 2014 in London, England. Students of the London College of Fashion, Management and Science and Media and Communication attended their graduation ceremony at the Royal Festival Hall today. (Photo by Dan Kitwood/Getty Images)
Some student loan borrowers can breathe a sigh of relief.
According to CNBC, The U.S. Department of Education is erasing the student debt of 320-thousand people who have a total and permanent disability. Those affected won’t have to do anything; the info is coming from the Social Security Administration since they handle payouts to the disabled
The only thing the Ed Department wants is for the borrowers to continue to share earnings data with them. The measure starts taking effect next month and will erase a total of $5.8 billion.
Source: CNBC