Application for Student Loan Debt Cancellation Goes Live
- Group 3 Class 4
- 20 thg 10, 2022
- 2 phút đọc
President Joe Biden announced that a website processing student debt cancellation applications had gone live. MoreBorrowers can now submit their applications to have their student loan debt canceled, President Joe Biden announced on Monday.
President Joe Biden discusses the newly-functional student debt cancellation site on Monday, Oct. 17, in the White House.
“I recently announced my administration’s plan to relieve up to $20,000 in student loan debt if you received a Pell Grant and up to $10,000 if you didn’t,” Biden said Monday. “Today, I’m announcing how working- and middle-class folks can apply for that relief.”
Biden in August detailed his plan to cancel $10,000 for borrowers making $125,000, or $250,000 for married couples, and $20,000 for those who also received federal Pell Grants – tuition-assistance available to students from low- and middle-income families.
The application now is online in beta form and available through the Education Department’s Federal Student Aid office. More than 8 million borrowers applied for the debt cancellation over the weekend after the website was set live on Friday.
“It’s easy,” Biden said. “It’s fast.”
Borrowers must submit their Social Security numbers and birthdays and attest that they meet the income eligibility requirements.
“There are no forms to upload, no special logins to remember,” the president said. “It takes less than five minutes.”
The Biden administration launched the application in the wake of a slate of legal challenges to the debt cancellation plan from a handful of Republican-controlled states and a libertarian legal organization, which argue that Biden violated federal law, the constitutional principle of separation of powers and the Administrative Procedure Act when he “skirted” congressional authority to implement the debt forgiveness plan.
“Litigation is under way,” Biden said in response to a question about whether the legal challenges to the debt cancellation plan would delay the relief. “Our legal judgment is that it won’t [get in the way], but they’re trying to stop it.”
White House officials said they’re hopeful that borrowers who apply in October will see the loan cancellation reflected in their balances by next month, and they’re urging borrowers to apply as soon as possible.
“As millions of people fill out the application, we are going to make sure the system continues to work as smoothly as possible so we can deliver student loan relief for millions of Americans as swiftly as possible.”
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