Federal Student Loan Debt Relief

As you may have heard, President Biden recently announced his plan to provide targeted student loan debt relief. The U.S. Department of Education will provide up to $20,000 in debt cancellation to Pell Grant recipients with loans held by the Department of Education and up to $10,000 in debt cancellation to non-Pell Grant recipients. Borrowers are eligible for this relief if their individual income is less than $125,000 or $250,000 for households.

In order to receive this assistance, borrowers can complete an application through the U.S. Department of Education by December 31, 2023.

Application links:

• English: https://studentaid.gov/debtrelief/apply
• Spanish: https://studentaid.gov/es/debt-relief/application

FAQ:

• English: https://studentaid.gov/manage-loans/forgiveness-cancellation/debt-relief-info
• Spanish: https://studentaid.gov/es/manage-loans/forgiveness-cancellation/debt-relief-info

As always, my office is here to work for you. If you have an issue with the student loan debt relief application process, you can contact us at (630) 585-7672 or by submitting an online request here.