The forgiveness program was introduced by Biden at the end of August.
Student Loan Forgiveness Form Application Process
For debtors with a yearly income of less than $125,000, it forgives up to $10,000 in federal student loan debt.
Borrowers who obtained a Pell Grant during their time in college may be forgiven up to $20,000.
Education Department will launch a website where borrowers can submit requests for forgiveness sometime in early October; wait for the portal to go live.
According to administration authorities, the self-attestation form will be brief and straightforward for borrowers.
You will have until December 31, 2023, to submit your application; however, a pardon will only be awarded to those who apply first.
Either for 2020 or 2021, you must confirm your income.
The My Aid page on their studentaid.gov profile is all borrowers need to follow.
If the Edu Dept. owns and manages your FFEL and Perkins Loans, you may be eligible for forgiveness.
Additionally eligible for forgiveness are defaulted loans.
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