Application form for $10,000 student loan forgiveness now open

The online student debt relief application form is now open. Borrowers have until December 31, 2023 to fill out.

The Biden administration first announced its massive student loan forgiveness plan on Aug. 24. The plan will forgive at least $10,000 in federally-organized student loans for most. borrowers and up to $20,000 for Pell Grant recipients.

At the time, the administration said an application for student loan forgiveness would be opened in October, but did not specify a specific date. That led to many people asking online when the app would be available.

QUESTION

Is a student loan forgiveness application public?

SOURCES

ANSWER

This is the truth.

Yes, the student loan waiver application has been open, as of October 15.

WHAT WE FIND

Broad student loan forgiveness applications are open as of October 15 on studentaid.gov. People have until December 31, 2023 to apply.

The app was released in “beta” format on the evening of Friday, October 15, 2022. The Department of Education said the app will be available on and off until the official launch. Any student borrower who is eligible for loan forgiveness can apply, and the Education Department said beta applications will be processed and students will receive debt relief upon application.

The White House tweeted a video beta app website preview on October 11.

The form is currently online only, although it can be filled out both from mobile and desktop. It has two languages: English and Spanish.

To complete the application, borrowers need their name, date of birth, Social Security number, phone number, and email address. Applicants will sign their name to certify that they meet the criteria for student debt relief, which will be listed on the form.

Application will not ask for an FSA ID or any documents, including tax forms; however, if the Department of Education finds that there is a discrepancy between its official application and what the applicant has filled in, the Department of Education will request additional documentation.

Borrowers who have already received a Pell grant will not need to fill out any additional information to confirm that they have received their grant. The Department of Education already has that data available to them.

Once a borrower has completed their application, the Department of Education will review the application, determine the borrower’s eligibility for student loan forgiveness, and then work with the servicer. the borrower’s loan to process the borrower’s relief. The Department of Education did not provide an estimate of how long it will take to process applications and provide assistance to applicants.

The Department of Education will communicate with borrowers primarily via email. It will email or have emailed 8 million borrowers eligible for automatic relief and no need to fill out an application. For applicants who complete the application, there will be both a confirmation screen after the borrower submits the application and an email confirming that the Department of Education has received the application.

Although there is currently no paper version, the Department of Education plans to release one in 2023. The deadline for that form will be December 31, 2023, the same as the online form.

The Ministry of Education has not released an official schedule for the launch of the online application form.

More from VERIFY: Yes, a change to the student loan forgiveness plan will exclude some borrowers from getting relief

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https://www.king5.com/article/news/verify/student-loan-forgiveness-application-debt-relief-form-now-open/536-d53d1df9-b758-448a-aaf5-6b0d6405ee36 Application form for $10,000 student loan forgiveness now open

Edmund DeMarche

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