Student loan forgiveness application site now open: How to apply, what to know about Beta launch
The U.S. Department of Education has rolled out a Beta version of its student loan forgiveness application site.
Qualifying borrowers can now submit an application for loan forgiveness – up to $20,000 for Pell Grant recipients and $10,000 for federal loan holders – through the federal website. The site was launched Friday in its preliminary testing version but is live for users to complete and submit their applications. Applications will be processed later this month when the form officially launches but Beta users won’t have to resubmit.
“The applications will be available on and off during this time,” the department said. “If you try and it’s not available, try again later or wait until the application is available to all borrowers.”
You can submit your application here.
Completing the application takes about 5 minutes and there is no log-in required. Users will not be asked to provide any documents. You can apply on your desktop, laptop, a mobile device or tablet and you will receive a confirmation email once you submit your information.
The department said it will determine eligibility and contact users if more information is needed. Loan service providers will notify borrowers when relief has been processed.
The formal site will be launched later this month and will be available to borrowers through Dec. 31, 2023. A paper application will be made available at a later date, according to the department.
To qualify, borrowers must have an annual income of under $125,000 for individuals or under $250,000 for married couples in either 2020 or 2021. Also, the debt relief only applies to loan balances you had before June 30, 2022. And new loans disbursed on or after July 1, 2022 don’t qualify.
You can go here to see additional information on qualifications.