How Can I Apply For Federal Student Loan Forgiveness?

A stack of one hundred dollar bills in a money wrapper labeled "Student Loan" on top of a blue graduation cap.
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On Aug. 24, President Joe Biden announced he would cancel $10,000 in student loan debt for individuals making less than $125,000 a year.

The initiative was announced after months of speculation and designed to provide some relief to middle and lower-income earners — delivering on Biden’s steadfast promise proposed in the original Build Back Better plan.

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Now that the plan has been unveiled, many are wondering how they can apply for the $10,000 student loan forgiveness. The specifics on that are still pending, but we can expect answers soon. 

In the fact sheet the White House released detailing the announcement, it is stated that the Department of Education will work “quickly and efficiently to set up a simple application process for borrowers to claim relief.” Details on what the application process will entail or when applications will be ready have not yet been provided.

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The fact sheet also notes that about 8 million borrowers could automatically receive the relief because their financial data is already in the system.

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In the meantime, the Department of Education is extending the student loan pause through December 31, 2022. 

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About the Author

Nicole Spector is a writer, editor, and author based in Los Angeles by way of Brooklyn. Her work has appeared in Vogue, the Atlantic, Vice, and The New Yorker. She's a frequent contributor to NBC News and Publishers Weekly. Her 2013 debut novel, "Fifty Shades of Dorian Gray" received laudatory blurbs from the likes of Fred Armisen and Ken Kalfus, and was published in the US, UK, France, and Russia — though nobody knows whatever happened with the Russian edition! She has an affinity for Twitter.
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