LINCOLN- Nearly 6,000 Nebraskans qualify for more than $268 million in student debt relief offered under a new Biden administration policy, according to the U.S. Department of Education. The Department of Education and the White House announced last week that more than 800,000 federal student loan borrowers will have their remaining debt eliminated. State-by-state numbers were released this week.

The $39 billion in debt relief will come through fixes to mismanagement of the agency’s income-driven repayment plans, officials have said. Many long-time borrowers, including those who had been making payments for 20 years or more, were denied relief they were eligible for under the repayment plans. Qualified payments that were made were not accounted for.

Starting Friday, the Department of Education will begin to notify those 804,000 borrowers of their forgiveness, and within 30 days their debts will be wiped out. The plan includes borrowers with Direct Loans or Federal Family Education Loans held by the department (including Parent PLUS loans of either type) who have reached a forgiveness threshold specified by the department.

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