Update On Student Loan Forgiveness Applications
Here is an update: According to Cnn.com, ” A federal appeals court put a temporary, administrative hold on President Joe Biden’s student loan forgiveness program, barring the administration from canceling loans covered under the policy, while the court considers a challenge to it.”
Good news for former college students! The student loan forgiveness applications are now open. On Friday, the Biden administration opened the application process for Americans who are looking to get debt relief. Back in August, President Biden announced his decision to cancel up to $10,000 in student loan debt for individuals making less than $125,000 a year. $20K is offered for eligible bowers who were also Pell Grant Recipients. According to cnn.com , “Anyone who applies for the debt relief in the beta period will receive a confirmation email, but their application will not be processed until the site formally launches, expected at a to-be-announced date before the end of October. Once processing begins, most qualifying borrowers are expected to receive debt relief within weeks.”
