The Biden Administration yesterday opened the process for applying for student loan forgiveness for up to $20,000 dollars at the beginning of the trial period of the website for these purposes.
A spokesman for the United States Department of Education confirmed this Friday to CNN that beta application webpage now allows applicants to apply before the site is officially unveiled later this month.
The link for the registration page is: https://studentaid.gov/debt-relief/application.
Last August, the president announced his decision to write off up to $10,000 in student debt for individuals with income of $125,000 or less per year and up to $20,000 for eligible borrowers who also received a Pell Grant.
“Tonight (Friday), the Department of Education student debt relief website beta testing to begin. During the beta testing period, borrowers could submit applications for the Biden-Harris Administration’s debt relief program,” the person said.
Anyone who submits their information in the system, you are supposed to receive a confirmation email. However, the application will not be processed until the site is officially launched at the end of the month.
“Those borrowers will not have to reapply if they submit their application during the beta testing period, but no application will be processed until the site is officially launched at the end of the month. The trial period will allow the Department to monitor the performance of the site through real world usage, test the site prior to the official launch of the application, refine processes and discover any flaws before launch“added the agency spokesman.
Once the process is activated, the expectation is that the beneficiaries of the aid will see debt relief in a matter of weeks.
Some 20 million people would benefit from the measure of Biden and his team.
According to a White House fact sheet, since 1980, the total cost of both four years of study at public universities and private colleges has tripled.
The analysis of the federal Department of Education indicates that a average undergraduate student ends up owing about $25,000 in student loans when you graduate.
The Department of Education faces several lawsuits seeking to annul the program of forgiveness. A federal district judge will soon have to determine whether he will temporarily halt the initiative as a result of a preliminary injunction hearing on Wednesday.
Last month six Republican states filed an appeal in Missouri before Judge Henry Edward Autrey to block the program.
The plaintiffs allege that the Biden Administration does not have the legal authority to proceed with debt forgiveness. The states further allege that the policy would affect them financially as well as the state-based MOHELA student debt holder’s income.