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BIDEN'S STUDENT LOAN DEBT RELIEF?

Update 11/23/22: Recently, a federal appeals court has contested Biden's Student Debt Relief plan, and temporarily halted the program.

Here is what studentaid.gov says about the matter:

"Courts have issued orders blocking our student debt relief program. As a result, at this time, we are not accepting applications. We are seeking to overturn those orders. If you've already applied, we'll hold your application. Subscribe and check back here for updates. We will post information as soon as further updates are available."

Also, the student loan payment pause has been extended.

Here is a note about the extension from studentaid.gov:

"The student loan payment pause is extended until the U.S. Department of Education is permitted to implement the debt relief program or the litigation is resolved. Payments will restart 60 days later. If the debt relief program has not been implemented and the litigation has not been resolved by June 30, 2023 — payments will resume 60 days after that. We will notify borrowers before payments restart."


BIDEN'S STUDENT DEBT RELIEF PROGRAM

President Biden announced in 2022 that there will be up to $20,000 forgiven in federal student loans for working class and middle class borrowers.

Specifically, this will be up to $20,000 in debt relief to Federal Pell Grant recipients and up to $10,000 in debt relief to non-Pell Grant recipients.

Borrowers with loans held by the Education Department are eligible for this relief if their individual income is less than $125,000 (or $250,000 for households).

 

Updates 10/3/22: The Education Department says that a subset of federal student loans owned by private lenders no longer qualify for relief.

See the resources we have posted below for more information.


OFFICIAL GOVERNMENT WEBSITES

Student Loan Debt Relief Application - Apply Here

 

Studentaid.gov

For more information on your personal student loan forgiveness status,

make an account with the website above.

 

One-Time Student Loan Debt Relief (Studentaid.gov)

Information on how to receive your student loan forgiveness.


RELATED NEWS STORIES

225 Groups Urge Biden to Extend Student Loan Payment Pause During Court Fights (Common Dreams, 11-21-22)

Appeals court blocks Biden student debt cancellation plan (The Hill, 11-14-22)

Applying for Biden’s student loan forgiveness? Here’s what to know (Washington Post, 10-17-22)

Biden’s student loan forgiveness application is coming soon. Here’s what you need to know (CNN, 10-4-22)

Biden administration scales back student debt relief for millions amid legal concerns (Politico, 9-29-22)

When to apply for student loan forgiveness — 4 key dates to know (CNBC, 9-12-22)