It’s happening, y’all! The Department of Education launched the one-time student loan debt relief (AKA student loan forgiveness) applications this week. Federal student loan borrowers have until December 31. 2023 to submit applications for some debt relief. The applications will begin being processed this month.

The Details

Who’s eligible for forgiveness? 

• Single borrowers earning less than $125,000 a year in 2020 or 2021, or 

• couples/families that file taxes jointly and make less than $250,000 annually (in either 2020 or 2021). 

How much debt relief can you get?

• Up to $20,000 in debt relief if you received a Federal Pell Grant in college 

• Up to $10,000 in debt relief if you didn’t receive a Federal Pell Grant in college and m

How to apply

• Visit this link (https://studentaid.gov/debt-relief/application)

• Submit your information.

The application is ridiculously short, simple, and easy to complete. It’s almost as if a human person spent time thinking about making this process as simple and easy as possible. A fascinating concept! Hooray! Also, do people say hooray in real life? We should.

What information do you need? Just these five things!

• Borrower's full name, 

• Social Security number, 

• Date of birth, 

• Contact information

• Answers to income-related questions for 2020 or 2021 to verify your eligibility.

What type of loan qualifies?

• Direct loans

• Direct PLUS loans (including graduate loans)

• Consolidated loans

• FEEL and Perkins loans held by the Department of Education

• Defaulted loans

How will you know about the status of your application?

You’ll get an email confirmation!

That’s it? Yes! That’s fucking it. S/O to Big Daddy Biden for at least trying to help people out here.

Make education affordable again!