On Monday, the Department of Education officially launched the student debt forgiveness program application process following the successful launch of its beta site over the weekend.
The Biden administration said eligible borrowers could apply for up to $20,000 of student debt relief. Those who made less than $125,000 a year or their household earned less than $250,000 a year could qualify for up to $10,000 in forgiveness. If you fell under these guidelines and received a Pell Grant, you are eligible for an additional $10,000 relief.
Ready to apply? Here's how.
First, visit studentaid.gov and click "Start the Application" in the student loan debt relief section.
The application will ask for basic personal information, including name, Social Security number, date of birth, phone number, and email.
Documentation about your income or your student loans is not required.
Applicants will also be asked to review and submit the agreement. Look over the eligibility rules, and once you must make sure you meet them, fill out your name again and click the box confirming that the information you provided is accurate.
Borrowers must apply for the forgiveness program by Dec. 31, 2023.
CNBC reported that those who applied while the site was in beta mode do not need to re-submit.