The U.S. Department of Education has officially launched a website accepting applications for student loan forgiveness.
Under the program, those with federally guaranteed student loans can have up to $20,000 of their eligible student loan debts forgiven, depending upon certain qualifying factors. Those who had also received Pell Grants, which are for lower-income students, can have up to $20,000 forgiven, while non-Pell Grant recipients can have up to $10,000 in debts forgiven.
However, in both cases, the borrowers are only eligible if they have individual income under $125,000 (or $250,000 for married couples).
The website for applying for student loan forgiveness is studentaid.gov/debt-relief/application.BACK TO LIST