Applications now accepted to get federal student loan debt relief. Find out how.

Brayden Garcia
Bigstock

Federal student loan debt relief applications are now open, President Joe Biden announced Monday afternoon.

Biden’s plan will erase $10,000 in federal student loan debt for individuals with incomes below $125,000 a year, or households that earn less than $250,000. Pell grant recipients are eligible for $20,000 of debt relief.

Applications for the student loan relief plan went live on Monday, borrowers can apply for the program here.

The application is about a page long, requiring the applicant’s name, social security number and contact information. After the application is submitted, a confirmation email will be sent. The deadline to apply for relief is Dec. 31, and the Department of Education will continue to process debt relief applications after the deadline..

Once the application is complete, borrowers should expect federal student loan debt relief in four to six weeks.

Applications, available in English and Spanish, need to be filled out by Nov. 15 for debt relief to kick in by the end of the year.

To check student loan status, borrowers can log into the Student Aid website to see what loans they have. The loans eligible for relief are:

  • William D. Ford Federal Direct Loan Program

  • Federal Family Education Loan Program

  • Federal Perkins Loan Program

  • Commercially serviced Subsidized Stafford, Unsubsidized Stafford, parent PLUS, graduate PLUS; and Perkins loans.

Private loans are not eligible for debt relief, according to the U.S. Department of Education.

Over 8 million people have already applied for student debt relief after a beta version of the student aid website launched over the weekend, Biden said at his Monday press conference.

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