How to fill out the Student Loan Forgiveness Application

The student loan forgiveness application has been active for about a month giving millions in the U.S. hope for their bank accounts. 

Student debt has been an increasing issue within the last decade with inflation speculated to be the cause. In the 1980s the average tuition cost was estimated at around $3,400; today the average is about $23,000 according to a study by informationstation.org. 

It is no secret that eligible students take out thousands each school year to help pay for tuition through The Free Application for Federal Student Aid [FAFSA]. The Student Loan Debt Relief application would forgive up to $20,000 in student debt for pell-grant recipients and $10,000 for other recipients. 

Do I qualify? We as students most likely have taken out student loans through FAFSA, and if you or your parents made less than $125,000 in the 2020-21 year, you may qualify.

How can I apply? Filling out the online application takes less than 10 minutes at https://studentaid.gov/debt-relief/application. All the information you need to apply is the full name of the lender, social security number and date of birth along with a phone number and email address. Make sure you fill out your information on a secure website as private information will be stated.  

After applying you will get a confirmation email stating you submitted your application. Students will have to wait until the status of approval or deny. The government will ultimately decide how much money to allocate. 

Whether it is a few hundred or a few thousand, this application is for those who seek aid in paying off their loans. This application, created by the Biden-Harris administration, aims to relieve student debt for the middle class as part of a three-part plan to help students who borrowed government money to repay their debts. 

Step one aims to extend the loan pause a final time through Dec. 31, 2022 with payments resuming in January 2023. The second will provide targeted debt relief to low-income and middle-class citizens with this application. The third will make the student loan system easier to navigate and manage for future and current borrowers. 

We as students need to take advantage of this opportunity as inflation continues to rise and the cost of education is at a high. 
For more specific details you can visit https://studentaid.gov/debt-relief/application. Apply for student loan debt relief no later than Dec. 31, 2023.