CITYWIDE — Anyone can now apply for up to $20,000 of student loan forgiveness through President Joe Biden’s national debt cancellation program.
People who want to apply can go to this site to fill out a form by Dec. 31. It asks for the applicant’s name, social security number and contact information.
The form is still being tested, but any applications submitted before the website’s official launch will be processed, according to the website.
In August, Biden announced his plan to cancel a portion of borrowers’ student debt as well as extend the months-long pause in student loan payments until the end of the year.
Borrowers who made less than $125,000 as an individual in 2021 are eligible for $10,000 off their debt unless they’ve received a Pell Grant, in which case they can apply for $20,000 of debt cancellation. Families are also eligible if they made less than $250,000 in 2021.
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