Student Debt Relief
Student Debt Relief Heading link
Federal Student Aid and the Biden-Harris Administration have announced loan forgiveness plans of up to $20,000 for Pell-Grant recipients and up to $10,000 for all other loan borrowers. Borrowers are eligible if their annual income is less than $125,000 for individuals or $250,000 for married couples/heads of households. Borrowers may view their loan balances and check their Pell Grant status by logging into their Federal Student Aid account online at studentaid.gov. Please visit studentaid.gov/debt-relief-announcement/ for the most up-to-date information. Please note: Only loans 1st disbursed prior to June 30, 2022 qualify for debt forgiveness. Also, for students where were classified as “Dependent” as based on the 21/22 FAFSA, your income level will be based on your PARENT income reported.
What do I need to do to receive loan forgiveness?
- Nearly 8 million borrowers may be eligible to receive relief automatically because relevant income data is already available to the U.S. Department of Education.
- If the U.S. Department of Education doesn’t have your income data, or if you do not know whether the U.S. Department of Education has your income data, the Administration will launch a simple application in the coming weeks.
- The application is now open. Apply today (but no later than Dec.31, 2023). Borrowers can apply at: https://studentaid.gov/debt-relief/application
- If you would like to be notified by the U.S. Department of Education when the application is open, please sign up at the Department of Education subscription page.