Biden officially launches student loan forgiveness application: How to apply for debt forgiveness

WASHINGTON– President Joe Biden formally filed the request for student loan relief Monday after the site’s trial went live this weekend — a long-awaited first step in fulfilling one of his campaign promises just weeks before the midterm elections.

“Today is one of the big steps my administration is taking to make education a middle class ticket,” Biden said.

“A new student loan application is now open. If you have federal student debt, please visit student It’s simple, easy and fast. And it’s a new day for millions of Americans across our country.”

Education Minister Miguel Cardona said after Monday’s briefing that over 8 million borrowers have already applied for loan forgiveness through the application’s “beta,” or trial, launch on Friday.

The rollout is a much-anticipated move to fulfill Biden’s August announcement that people on federal student loans can apply for up to $20,000 in debt relief, depending on the type of financial aid they receive and how much money they make .

WATCH: Student loan forgiveness could help more than 40 million people

Borrowers who submitted their applications for the student debt relief program during the beta testing phase do not need to reapply now that the application has officially started, according to a department spokesman.

“While millions of people fill out the application. We will ensure that the system continues to function as smoothly as possible so that we can provide student loan relief to millions of Americans as quickly and efficiently as possible,” Biden said Monday.

“My commitment was that if I was elected President, I would do government work to get people results. This launch honors that commitment, just as I honor my commitment to reducing student debt while borrowers recover from the economic downturn caused by the once-in-a-lifetime pandemic.”

ALSO SEE: Scammers Target Student Loan Forgiveness

This is an evolving story. Check for updates again.

Copyright © 2022 ABC News Internet Ventures. Biden officially launches student loan forgiveness application: How to apply for debt forgiveness

Russell Falcon

TheHitc is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – The content will be deleted within 24 hours.

Related Articles

Back to top button