Earlier this year President Biden announced a program to cancel student loan debt for the majority of borrowers in the U.S. Last week, the Biden administration opened applications for the debt relief.
Borrowers are eligible to receive $10,000 or $20,000 in student debt relief depending upon income and whether you received a Pell Grant. To apply, you’ll need the following information:
- Name and email address
- Your Social Security Number
- Information from your 2020 or 2021 taxes (If you filed single, did you earn less than $125,000? If you filed jointly, did you earn less than $250,000?)
Apply here: https://studentaid.gov/debt-relief/application
The Education Department says borrowers who apply in October could have debt canceled as soon as November, and borrowers are encouraged to file their forms by Nov. 15th to have their debt canceled before student loan payments resume on January 1, 2023.
Are you looking for information about Public Service Loan Forgiveness? IHSS providers are also eligible for PSLF and you’ll need your Employer Identification Number (942629822). For more information, start here: https://www.afscme.org/member-resources/student-debt-resources
