Borrowers who have student loan debt can have up to $20,000 of their student loans forgiven, according to The White House
To be eligible, individuals need to have an 2020 or 2021 Adjusted Gross Income, or AGI, of less than $125,000 or $250,000 for combined household income.
If you qualify, here’s what you need to know about when and how to apply for student loan forgiveness from the federal government.The application “will be available no later than when the pause on federal student loan repayments terminates at the end of the year,”The Federal Student Aid website further clarifies the White House statement by saying the loan forgiveness application forms will be available to fill out online by the first week of October.
After an individual completes an application, it is expected that some form of relief will be doled out within 4-6 weeks. The Department of Education will start processing applications on a rolling basis and will continue to do so after the federal student loan pause expires.Our journalism needs your support. Please subscribe today to
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