Student loan borrowers can now apply for up to $20,000 in one-time loan relief after the US Department of Education (DOE) launched a beta application.
The DOE said it started performing this soft launch on Oct. 14 to work out any glitches ahead of the full rollout, which is expected sometime later this month.
You may receive an email from the DOE with a link to apply through the beta site. You can also access the application here.
Applications won’t be processed until the full site officially launches later this month.
Once the full site goes live, borrowers will have until Dec. 31, 2022, to submit an application. However, experts recommend submitting your application as soon as possible.
What to Expect on the Student Loan Forgiveness Application
You might encounter some minor bugs or glitches if you submit your application during the beta test.
But if it goes through, you’re good to go, according to the DOE.
“If you submit an application, it will be processed, and you won’t need to resubmit,” the agency noted on its website.
The application itself is super easy, which DOE showed in a video last week. You’ll need to enter basic information, including your name, Social Security number, phone number and birth date.
Student Debt Relief Update:
Today, the US Department of Education is previewing the student debt relief application form. Here’s the latest: pic.twitter.com/efSzRbions