Last week, President Biden launched the historic Student Loan Debt Relief Application for borrowers. The Biden Administration is providing up to:

• $10,000 in federal student debt cancellation to non-Pell Grant recipients; or
• Up to $20,000 in relief for federal Pell Grant recipients.

The debt relief applies only to loan balances borrowers held before June 30, 2022. Single household borrowers earning less than $125,000 annually and couples making under $250,000 per year are eligible to receive forgiveness. The application is open now through December 31, 2023, while the moratorium on all federally held student loans remains in effect until December 31, 2022.

This application takes less than five minutes to complete and is available in both English and Spanish on mobile devices and desktop computers. You are not required to make an account or upload any documents in order to apply.

I encourage everyone to take advantage of this historic, one-time opportunity for debt forgiveness.

For more information, visit the Federal Student Aid website. 

The time-limited changes to the Public Service Loan Forgiveness (PSLF) program by the U.S. Department of Education known as the "Limited PSLF Waiver" will expire on October 31, 2022. Under the waiver, non-profit and government employees that have federal student loans may now be eligible for loan forgiveness or additional credit. The waiver will allow borrowers to gain additional PSLF credit, even if they had been told previously that they borrowed under the incorrect loan type or made payments under an incorrect repayment plan.

There’s no specific application for the waiver – you simply need to submit a PSLF form. If you have non-Direct federal student loans, you’ll also need to consolidate into a Direct Loan before October 31, 2022.

If you previously applied for PSLF and were denied because of your loan type, I encourage you to try again. If you previously applied for PSLF, I also encourage you to update your employment certification by completing a PSLF form.

Just a few minutes of your time may save you thousands of dollars on your student loans! You need to take the steps necessary to qualify for the Limited PSLF Waiver before October 31, 2022.

I encourage you to take advantage of the PSLF waiver TODAY!