Student Loan Debt Relief Application Now OpenOctober 18, 2022
Earlier this summer, the Biden Administration announced student loan debt relief, and I'm pleased to share that the application process is now open!
The application takes about 5 minutes to complete and is available in English and Spanish. Applicants do not need to log in or provide any documents. Borrowers will have until December 31, 2023 to apply.
Nearly 40 million Americans will be eligible for this relief. Individuals making less than $125,000 per year and couples earning less than $250,000 could qualify for up to $10,000 in relief. Borrowers who received a Pell Grant are eligible for up to $20,000 in loan forgiveness.
The debt relief only applies to loan balances you had before June 30, 2022. New loans disbursed on or after July 1, 2022 will not be eligible for relief.
Student loan debt has anchored millions of Americans, preventing them from building wealth, contributing to their families, and engaging with their community. Borrowers' budgets have been further constrained by economic pressures resulting from the pandemic, geopolitical conflict, supply chain disruptions, and inflation.
This relief is a financial lifeline that could help many individuals and families across our state build a more stable future for themselves.