DO I QUALIFY FOR STUDENT LOAN FORGIVINESS

DO I QUALIFY FOR STUDENT LOAN FORGIVINESS

DO I QUALIFY FOR STUDENT LOAN FORGIVINESSWho will qualify for student loan forgiveness?

You qualify to have up to $10,000 forgiven if your loan is held by the Department of

Education and you make less than $125,000 individually or $250,000 for a family. If you

received Pell grants, which are reserved for undergraduates with the most significant

financial need, you can have up to $20,000 forgiven.

Where do you apply for student loan forgiveness?

Individuals seeking to apply for student debt relief can now fill out the form in English or

Spanish at Studentaid.gov. The form includes information on federal student loan debt

relief, who qualifies for it and how it works.

What is the deadline for student loan forgiveness?

Dec. 31, 2023

Apply today (but no later than Dec. 31, 2023). We’ll determine your eligibility and will

contact you if we need more information. Your loan servicer will notify you when your relief

has been processed.

Can I ask for my student loans to be forgiven?

Forgiveness programs are available based on the borrower’s loan type (federal or private),

repayment plan, career, employer and financial or personal situation. There are also special

circumstances, such as attending a predatory for-profit school, that may qualify for student

loan forgiveness.

Is student loan forgiveness canceled?

A federal appeals court on Friday evening blocked the imminent cancellation of federal student

loans under President Biden’s debt relief program, days after millions of borrowers began

applying for up to $20,000 in forgiveness.

Do I qualify for loan forgiveness?

Only borrowers who hold federal student loans and meet certain income requirement can qualify

for forgiveness. In 2020 or 2021, single-earners must have made less than $125,000, and for

households, less than $250,000. Note that you only need to meet the income requirements for

either 2020 or 2021, not for both years.