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Application process opens for borrowers looking for student loan forgiveness

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WXMI — The application process for Americans looking to get their student loans forgiven opened Friday.

The website launched a beta period where people can sign up before the website is unveiled officially later in October.

If you apply for the debt relief during this beta period, you’ll receive a confirmation email, but your application won’t be processed until the site launches formally.

Back in August, President Joe Biden announced his decision to cancel up to $10,000 in student loan debt for individuals making less than $125,000 a year, or as much as $20,000 for eligible borrowers who are also Pell Grant recipients.

Some eligibility requirements changed early in October after six states filed lawsuits to try to block the plan altogether.

READ MORE:Federal government adjusts student loan forgiveness program amid state lawsuits

Once procession starts, most qualifying borrowers will likely receive debt relief within a matter of weeks.

To apply for federal student loan debt relief, click here.

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