The student loan forgiveness application is official.

After weeks of waiting, student loan borrowers can now apply for President Biden’s program to receive up to $20,000 in debt cancellation.

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Who qualifies for this student loan forgiveness program?

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Undergraduate loans, graduate loans and Parent Plus loans held by the Education Department are all eligible for cancellation.

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Forgiveness is limited to borrowers who earned less than $125,000 in 2020 or 2021, or less than $250,000 for married couples.

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What is the maximum student loan forgiveness?

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Borrowers can qualify for up to $10,000 in student loan forgiveness.

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Recipients of Pell Grants are eligible for an additional $10,000 in forgiveness.

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Where can I apply?

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The application is available at

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What information is needed for the student loan forgiveness application?

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Applicants have to submit their Social Security number, name, date of birth, phone number, email and attest to earning less than the income caps set for relief.

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Is there a deadline to apply?

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Borrowers have until Dec. 31, 2023, to apply for the forgiveness program. But the administration has recommended that people apply by Nov. 15

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The student loan forgiveness application is official.

The student loan forgiveness application is official.

6 things to know

6 things to know

After weeks of waiting, student loan borrowers can now apply for President Biden’s program to receive up to $20,000 in debt cancellation.

After weeks of waiting, student loan borrowers can now apply for President Biden’s program to receive up to $20,000 in debt cancellation.

Who qualifies for this student loan forgiveness program?

Who qualifies for this student loan forgiveness program?

Undergraduate loans, graduate loans and Parent Plus loans held by the Education Department are all eligible for cancellation.

Undergraduate loans, graduate loans and Parent Plus loans held by the Education Department are all eligible for cancellation.

Forgiveness is limited to borrowers who earned less than $125,000 in 2020 or 2021, or less than $250,000 for married couples.

Forgiveness is limited to borrowers who earned less than $125,000 in 2020 or 2021, or less than $250,000 for married couples.

What is the maximum student loan forgiveness?

What is the maximum student loan forgiveness?

Borrowers can qualify for up to $10,000 in student loan forgiveness.

Borrowers can qualify for up to $10,000 in student loan forgiveness.

Recipients of Pell Grants are eligible for an additional $10,000 in forgiveness.

Recipients of Pell Grants are eligible for an additional $10,000 in forgiveness.

Where can I apply?

Where can I apply?

The application is available at

The application is available at

https://studentaid.gov/debt-relief/application.

https://studentaid.gov/debt-relief/application.

What information is needed for the student loan forgiveness application?

What information is needed for the student loan forgiveness application?

Applicants have to submit their Social Security number, name, date of birth, phone number, email and attest to earning less than the income caps set for relief.

Applicants have to submit their Social Security number, name, date of birth, phone number, email and attest to earning less than the income caps set for relief.

Is there a deadline to apply?

Is there a deadline to apply?

Borrowers have until Dec. 31, 2023, to apply for the forgiveness program. But the administration has recommended that people apply by Nov. 15

Borrowers have until Dec. 31, 2023, to apply for the forgiveness program. But the administration has recommended that people apply by Nov. 15

Follow for more such interesting informative Personal Finance News

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