Federal Student Loan Application Website Goes Live

WASHINGTON, D.C. (WJON News) -- The Federal Government has officially launched the Student Loan Debt Relief website.

Under the program, eligible student loan borrowers can have loans forgiven up to $20,000 for Federal Pell Grants and up to $10,000 to non-Pell Grant recipients. Individuals that qualify must have made less than $125,000 in 2021 or 2020, and families must have made less than $250,000.

You can apply for the loan forgiveness anytime now through December 31st, 2023.

The federal government will determine your eligibility and your loan servicer will notify you when your relief has been processed.

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President Joe Biden has officially kicked off the application process for his student debt cancellation program. He announced Monday that 8 million borrowers had already applied for loan relief during the federal government’s soft launch period over the weekend.

Biden is encouraging the tens of millions eligible for potential relief to visit studentaid.gov and touting the application form, which he says will take less than five minutes to complete. He says an early, “beta launch” version of the online form released late Friday handled the early stream of applications “without a glitch or any difficulty.”