US to automatically wipe out over $5.8B in student loan debt

“The Biden administration announced Thursday [August 19] it will automatically erase student loan debt for more than 300,000 Americans with severe disabilities that leave them unable to earn significant incomes. The move will wipe out more than $5.8 billion in debt, according to the Education Department, and it marks the start of a broader overhaul of a program that has been criticized for having overly burdensome rules.”

This is an important step in helping the disabled escape the stifling burden of student debt. Young people go to college with the intent of finding a better position in life. Some are unable to finish due to their handicap. Some finish, but cannot secure sufficient income to pay down their student debts and maintain a meaningful lifestyle. I hope the Biden Administration continues the policy of debt forgiveness.

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