President Joe Biden on Monday announced that the Department of Education’s (ED) application for student loan cancellation is open and ready for eligible borrowers to fill out.
According to the administration, over 8 million borrowers utilized the beta testing version of the form over the weekend. The form, which the White House previewed recently, is available in desktop and mobile versions, as well as English and Spanish. Borrowers will need to provide their name, date of birth, Social Security number, email, and phone number, and self-certify their income through a check-box feature in the application.
President Biden on student debt relief program website: "My commitment was, if elected president, I was going to make government work to deliver for the people. This rollout keeps that commitment."— CSPAN (@cspan) October 17, 2022
Full video here: https://t.co/nFxVIRzC8v pic.twitter.com/uOSdkcws6t
Borrowers can apply for cancellation through Federal Student Aid’s (FSA) website: https://studentaid.gov/debt-relief/application.
Education Secretary Miguel Cardona was with Biden during the announcement and told reporters that ED is working on pathways to provide relief to borrowers with privately-held Federal Family Education Loan (FFEL) Program loans. ED in a recent FAQ altered the eligibility requirements for those borrowers.
“Our legal judgment is that it won’t, but they’re trying to stop it,” Biden said of efforts to stall the implementation of debt relief.
Publication Date: 10/17/2022