Federal Student Debt Relief Application
The Federal Stuent Debt Relief Application has been posted on the studentaid.gov website.
Who qualifies for student debt relief?
Borrowers are eligible for student loan debt relief if their annual federal income was below $125,000 (individual or married, filing separately) or $250,000 (married, filing jointly or head of household) in 2020 or 2021.
Individuals who earned less than $125,000 in either 2020 or 2021 and married couples or heads of households who made less than $250,000 annually in those years will see up to $10,000 in federal student loan debt forgiven.
In addition, those who qualify income-wise and who received a federal Pell Grant while enrolled in college are eligible for up to $20,000 in debt forgiveness.
Public service workers with at least 10 years of service may also be eligible to have their student loan debt canceled.
New loans disbursed on or after July 1, 2022, do not qualify for debt relief.