The Biden-Harris Administration's Student Debt Relief Plan Explained
What the program means for you, and what comes next
President Biden, Vice President Harris, and the U.S. Department of Education have announced a three-part plan to help working and middle-class federal student loan borrowers transition back to regular payment as pandemic-related support expires.
This plan includes loan forgiveness of up to $20,000. Many borrowers and families may be asking themselves “what do I have to do to claim this relief?” This link will provide answers to those questions and more: http://studentaid.gov/debt-relief-announcement/.
There will be more details announced in the near future. To be notified when the process has officially opened, sign up at the Department of Education subscription page.
You'll have until Dec. 31, 2023 to apply.