Contact: Allie Arcese
Director of Communications
WASHINGTON, D.C., OCTOBER 16, 2022 — On Friday evening, the application to receive President Joe Biden’s student loan cancellation opened for beta testing. Over the last several days, borrowers have been able to begin submitting their application ahead of the official launch, which is expected sometime later this month.
“We encourage financial aid administrators to communicate with their current and past borrowers and encourage them to fill out the application as soon as possible, while also tempering any frustrations borrowers may feel if the form is unavailable at certain times.
We’ve already seen multiple confirmed submissions from borrowers who said they completed the application in just a few minutes. If any borrowers miss the beta window, the Department has confirmed that their intent is to process any and all borrowers who submit their applications when processing begins.”
The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents more than 32,000 financial aid professionals at approximately 3,000 colleges, universities, and career schools across the country. NASFAA member institutions serve nine out of every 10 undergraduates in the U.S. Based in Washington, DC, NASFAA is the only national association with a primary focus on student aid legislation, regulatory analysis, and training for financial aid administrators.
Publication Date: 10/16/2022