The application for the one-time federal student loan debt relief program being rolled out by President Biden is now available at www.studentaid.gov, along with more information about the program. It takes approximately five minutes to complete and does not require a login.
“I encourage students who think they may be eligible to apply,” said Jo Branson, director of financial aid at Spoon River College. “The application is simple and quick to complete.”
Under the plan, eligible borrowers can receive $10,000 or $20,000 in debt relief depending on their income and whether they received a Pell Grant in college. According to the Education Department, borrowers who apply in October could see a portion of their debt forgiven as soon as November. Borrowers are being encouraged to file their forms by November 15 in order to see their balances reduced before the end of a freeze on payments that began during the pandemic and ends in January. The deadline to apply is December 31, 2023. For more information about the program, visit www.studentaid.gov.