The Hollywood Reporterannounces that the 44-year-old is teaming up with ABC Family to develop the book Debt into a drama series for the network.
The 2013 novel, written by Rachel Carvey, follows Lillian Fitzgerald, a recent college grad who becomes an SAT tutor to help pay off the hundreds of thousands of dollars in debt she racked up as a creative writing student — only to realize that even her wealthy clients have debts (in a sense) that she could potentially exploit them for her own gain.
As THR notes, this is Ellen's first time acting as executive producer. It's also her first non-Grey's project since the medical drama premiered in 2005, according to IMDb. (But don't worry — she's still signed on for two more seasons of Grey's!)
And if the project's subject matter sounds more adult than you're used to seeing on ABC Family, there's a reason: The network is aiming for the young adult demographic these days.
Congrats on this major coup, Ellen! We'll be keep an eye out for this series.