The Beta version of the Federal Student Loan Debt Relief is now live at https://studentaid.gov/debt-relief/application and is available in English and Spanish!
It will take you less than 5 minutes to read through and complete and you do not need to login to studentaid.gov. You may apply immediately, but no later than Dec. 31, 2023.
Landing page for Federal Student Loan Debt Relief at studentaid.gov
Simply fill in the following information:
First Name
Middle Initial (optional)
Last Name
Former Last name (optional)
Social Security Number (SSN)
Date of Birth
Phone Number
Email
After that, simply review the terms and then certify that all of the information provided is correct by signing with your First Name, Middle Initial (optional), and Last Name. Hit submit and that’s that! You will no longer need to submit another application for this one-time student loan debt relief again. You will also receive a confirmation of a successful submission at the email address that you provided.
Important Key Points
The amount of debt relief that you will receive is
Up to $20,000 in debt relief if you received a Federal Pell Grant in college and meet the income requirements
Up to $10,000 in debt relief if you didn’t receive a Federal Pell Grant in college and meet the income requirements
Keep in mind that the debt relief applies only to loan balances you had before June 30, 2022. Any new loans disbursed on or after July 1, 2022, aren’t eligible for debt relief. Other rules apply to consolidation loans.
October 31st, 2022 is another big date to keep your eye on. For those of you who want to take advantage of the Time-limited waiver for Public Service Loan Forgiveness (PSLF), you must file all your paperwork by that date.
For more on One-time Federal Student Loan Debt Relief, go to: https://studentaid.gov/manage-loans/forgiveness-cancellation/debt-relief-info.