The U.S. Department of Education sent out an email Saturday to student loan borrowers who wished to be the first to know when the application process would be open. (Dreamstime/TNS) TNSTNS
By
- Kaylee Remington, cleveland.com
CLEVELAND, Ohio -- The U.S. Department of Education sent out an email Saturday to some student loan borrowers announcing that a beta version of its long-awaited student-loan forgiveness application was live on its Federal Student Aid website.
President Joe Biden announced his expansive student-loan forgiveness plan more than a month ago. Single people earning less than $125,000, or married couples making less than $250,000, are eligible for $10,000 of federal student loan cancellation, under the Biden plan. Pell Grant recipients are eligible for an additional $10,000.
Borrowers who received the email Saturday were invited to be the first to test out the application online before the application is officially launched for everyone later this month.
“Soon, we’ll be opening the online application with our official launch,” according to the email from the DOE. “But we would like you to help us test the site by applying now during our beta test. If you submit an application during this period, it will be processed when the site officially launches. You won’t need to resubmit.”
The application is simple and straightforward, asking for the borrower’s full name, date of birth, Social Security number, email and phone number. No additional financial documentation is required, but applicants are asked to attest to a series of questions aimed at confirming their eligibility for forgiveness.
Those who fill out the application receive a confirmation email from the Department of Education saying that they will be notified when their request is approved and sent to their loan processor. The email says the loan processor will notify borrowers when their debt relief is officially approved.
Borrowers who submit their applications during the test period will not be required to re-submit when the process is opened to the wider public. Full details on the test application program are available on the Department of Education website.
“The application will be available on and off during this beta period,” the email says. “If you try and it’s not available, try again later. Once the application officially opens later this month, it will remain open until December 31, 2023.”
In Ohio, the Education Department said 1,677,800 Ohioans would be eligible for some level of student loan relief, and that 1,085,700 are Pell borrowers, low-income students who received federal grants based on financial need. It said the debts of around 750,000 Ohioans could drop to zero.
Borrowers are urged to apply for forgiveness before Nov. 15 so the relief comes before the final pandemic-related pause on loan payments expires on Dec. 31.
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Cindy Abrams/Alexis MarshallWPLN News
The federal government has soft-launched its application for student loan forgiveness. The Federal Student Aid website says borrowers can submit an application now during a beta launch to help refine the process.
The application is supposed to be really short and simple — just 5 minutes with no need to upload documents. And the administration says folks who submit during the beta period won’t have to do it again when the formal application launches.
But the application will be going on and offline during this period. If you try to submit and it’s not available, you can take another crack at it later. But don’t worry if you miss the chance to apply now. Student Aid says there’s no advantage to applying before the full launch.
The Education Department says it will fully launch the student debt relief applications later this month. Learn more about eligibility and how to prepare here.
Officials encourage borrowers who want their loans forgiven before repayments start back in January to apply by November 15, to allow time for processing. You can find more information on student debt relief and the beta application at StudentAid.gov.