Student Loan Forgiveness: When and How to Apply

According to the White House, borrowers who have student loan debt can get up to $20,000 of their student loan forgiven.

President Joe Biden’s student loan forgiveness plan forgives up to $20,000 in student loans for Pell Grant recipients and $10,000 for those with federal loans.

To be eligible, individuals must have a 2020 or 2021 adjusted gross income, or AGI, of less than $125,000 or $250,000 for combined household income.

If you qualify, here’s what you need to know about when and how to apply for federal student loan forgiveness.

When will the student loan forgiveness application be available?

The app “will be available no later than when the pause on federal student loan repayments ends at the end of the year,” according to the White House.

How do I complete a Student Loan Forgiveness Application?

The Federal Student Aid website further clarifies the White House statement by indicating that loan forgiveness application forms will be available to complete online by the first week of October.

People will have until December 31 to complete their application.

However, officials are encouraging borrowers to apply by Nov. 15 to qualify for loan forgiveness before the student loan payment break expires on Dec. 31.

Once an individual has completed an application, it is expected that some form of relief will be distributed within 4-6 weeks.

The Department of Education will begin processing applications on an ongoing basis and will continue to do so after the federal student loan suspension expires.

Click here to be notified when loan forgiveness applications go live.

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Katherine Rodriguez can be reached at [email protected]. Do you have any advice? Tell us at

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