Borrowers are encouraged to submit before mid-November 2022 before payments resume in January 2023. The application is a short online form and applicants don’t need to log in or provide any documents.
How Much Debt Relief You Can Get
The debt relief applies only to loan balances you had before June 30, 2022. Any new loans disbursed on or after July 1, 2022, aren’t eligible for debt relief.
What to expect after filing your application
Step 1: The U.S. Dept. of Education will review the application, determine eligibility for debt relief, and work with the assigned loan servicer to process student debt relief.
Insight: Unless you hear back from the U.S. Department of Education or your loan servicer, you don’t have to take any other action.
Step 2: The U.S. Dept. of Education will contact applicants if additional information is needed.
Insight: Additional documentation may be needed for the following:
· Income verification.
· If applicant was enrolled as a “dependent student” anytime between July 1, 2021 and June 30, 2022, information may be needed about parents’ income.
· Supporting documentation to match applicant information to loan records.
Step 3: The U.S. Dept. of Education will notify when an application has been approved and sent to assigned loan servicer to process debt relief.
Insight: Stay on top of communication from your loan servicer for additional important information, such as updates to outstanding loan balance and updated monthly payment amount.
Step 4: Beware of scams!
Insight: You might be contacted by a scam company saying they will help you get loan discharge, forgiveness, cancellation, or debt relief for a fee. You never have to pay for help with your federal student aid. Make sure you work only with the U.S. Department of Education and official loan servicers, and never reveal your personal information or account password to anyone.