<br><div><aside class="gnt_em gnt_em__fp gnt_em_vp__tp gnt_em__el" aria-label="Video - Biden's student loan forgiveness plan is felt by those who can, and can't, benefit from it"/><ul class="gnt_ar_sh"><li class="gnt_ar_sh_li">Applications for student debt forgiveness will be available soon.</li><li class="gnt_ar_sh_li">Borrowers should start preparing now to apply to ensure there's no delay in getting debt relief.</li><li class="gnt_ar_sh_li">Some 8 million people won't have to do anything to get their debt canceled. Find out if you're one.</li></ul><p class="gnt_ar_b_p">On your marks, get set. </p><p class="gnt_ar_b_p"><a target="_blank" href="/story/news/2022/08/24/student-loan-debt-forgiveness-ukraine-mack-rutherford-climate-change-its-wednesdays-news/7880063001/" rel="noopener" data-t-l=":b|e|inline click|${u}" class="gnt_ar_b_a">Federal student debt forgiveness</a> applications are about to drop, and you don’t want to be caught flat-footed. </p><p class="gnt_ar_b_p">People who earned $125,000 or less (or $250,000 for households) in 2020 or 2021 are eligible for at least $10,000 in federal student loan debt forgiveness. Recipients of <a target="_blank" href="/story/money/personalfinance/2022/08/25/what-is-pell-grant-biden-student-loan-forgiveness/7896150001/" rel="noopener" data-t-l=":b|e|inline click|${u}" class="gnt_ar_b_a">Pell Grants</a> – usually awarded to low-income undergrads – can receive up to $20,000 in relief. </p><p class="gnt_ar_b_p">Roughly 40 million borrowers are eligible for some student debt relief, with about 20 million expected to have their entire balance canceled, the White House says.</p><p class="gnt_ar_b_p">If you're one of the lucky ones, here is what you should do to ensure some or all of your debt is forgiven before <a target="_blank" href="/story/money/personalfinance/2022/08/31/prepare-student-loan-repayments-resuming/7906644001/" rel="noopener" data-t-l=":b|e|inline click|${u}" class="gnt_ar_b_a">repayments restart in January</a>.</p><h2 class="gnt_ar_b_h2">When will the application for student debt forgiveness go live? </h2><p class="gnt_ar_b_p">The federal government <a target="_blank" href="https://twitter.com/SecCardona/status/1566867565225312261" rel="noopener" data-t-l=":b|e|inline click|${u}" class="gnt_ar_b_a">has said</a> early October. On Friday, White House press secretary Karine Jean-Pierre said there was “no date set yet” for the release of the application form, but confirmed it would still be released in October.</p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p">“We’re trying to give relief to everyday Americans,” Jean-Pierre said. </p><h2 class="gnt_ar_b_h2">Ensure you’re qualified for student debt forgiveness </h2><p class="gnt_ar_b_p">Only borrowers with federal loans are eligible for relief if their...</p></div> <style> .wrapper { text-align: center; } </style> <div class="wrapper"> <a class="button" href ="https://www.usatoday.com/story/money/personalfinance/2022/10/02/student-loan-forgiveness-applications-online-soon-how-apply/8136477001/">Read more <span>➤</span></a> </div>
