Last month, Biden announced a student loan cancellation of $10,000 per student borrower.
Biden has announced an additional loan cancellation of $10,000 for Pell Grant receivers.
The announcement came out despite constant pressure on Biden by the Republicans to stop student loan cancellation.
After this announcement, some student loan debt is expected to get eligible for the cancellation automatically.
Those who don't get eligible for the student loan cancellation automatically can apply online.
Borrowers need to apply by November 15, to get the relief.
Borrowers can expect to get the relief within up to six weeks from the date of their application submission.
It's also important to bear in mind that the student loan payment pause will expire on December 31.
If you are an individual borrower, you will need to have an annual income below 1,25,000 dollars to qualify for the student loan cancellation.
Married couples need to have an annual income below $250,000 to be eligible for loan cancellation.