Borrowers who receive student loan forgiveness are released from the requirement to repay all or a portion of their federal student loan debt.
Student loan forgiveness plan promise to forgive some or all of your student loan debt in exchange for participating in particular professions, serving in the military, or simply performing volunteer work.
To be eligible for forgiveness, you must have federal student loans and earn less than $125,000 annually (or $250,000 per household).
Almost all federal student loans, including direct subsidized or unsubsidized loans, graduate loans, and parent PLUS loans, are eligible for forgiveness.
The Department of Education will forgive up to $20,000 in debt for Pell Grant recipients and for non-Pell Grant recipients, the amount will be up to $10,000.
Submit applications before November 15, 2022 in order to obtain assistance before the payment suspension ends on December 31, 2022. The application period will end on December 31, 2023.