Debt Relief Application Now Open
Earlier this year, President Biden announced plans to cancel up to $20,000 in student debt for Pell Grant recipients and up to $10,000 for individual borrowers who make under $125,000 per year, an action that could benefit more than 40 million Americans. The application to receive debt forgiveness formally opened on October 17 and it is estimated to take about five minutes to complete.
Visit Federal Student Aid to access the application; The Washington Post issued a guide to help people navigate the process.
The Department of Education will process applications as they are received through December 31, 2023; however, it is strongly suggested that borrowers apply as soon as possible. AACTE strongly urges you to check your availability for loan forgiveness — it could result in thousands of dollars being eliminated from your balance.
Tags: federal issues, funding
