The following steps may be helpful to determine if you're eligible for Student Loan Debt Relief:
- Check your eligibility on StudentAid.gov
- Make sure you’re signed up for email updates on StudentAid.gov
- Student Loan Debt Relief Application submit application
Step 1: Check if you're eligible
You're eligible for student loan debt relief if your annual federal income was below $125,000 (individual or married, filing separately) or $250,000 (married, filing jointly or head of household) in 2020 or 2021.
- $20,000 in debt relief: If you received a Pell Grant in college and meet the income threshold, you'll be eligible for up to $20,000 in debt relief.
- $10,000 in debt relief: If you did not receive a Pell Grant in college and meet the income threshold, you'll be eligible for up to $10,000 in debt relief.
Step 2: Prepare
Here's what you can do to get ready and to make sure you get our updates:
- Log in to your account on StudentAid.gov and make sure your contact info is up to date. We'll send you updates by both email and text message, so make sure to sign up to receive text alerts. If it's been a while since you've logged in, or you can't remember if you have an account username and password (FSA ID), we offer tips to help you access your account.
- If you don't have a StudentAid.gov account (FSA ID), you should create an account to help you manage your loans.
- Make sure your loan servicer has your most current contact information so they can reach you. If you don't know who your servicer is, you can log in and see your servicer(s) in your account dashboard.
- To be notified when the process has officially opened, sign up at the Department of Education subscription page.
Step 3: Submit your application
The application Student Loan Debt Relief Application.
Government website being updated with the latest information: https://studentaid.gov/debt-relief-announcement/one-time-cancellation
EDIT: A previous version of this post inaccurately stated 'Check your eligibility for the loan on StudentAid.gov' which has now been corrected.