<br><div><aside class="gnt_em gnt_em__fp gnt_em_vp__tp gnt_em__el" aria-label="Video - Loan forgiveness companies paying out $4.1 million to more than 27,000 student loan borrowers"/><p class="gnt_ar_b_p">Some student loan borrowers may not take advantage of <a target="_blank" href="http://www.usatoday.com/story/news/education/2024/04/08/biden-new-student-loan-forgiveness-proposal/73218916007/" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a" rel="noopener">President Joe Biden's final plan</a> to eliminate debt for millions because they don't know if they're eligible, don't understand the process or think it is a scam.</p><p class="gnt_ar_b_p">On Monday, Biden promised student loan relief by the fall with his final proposal. This plan comes less than a year after the Supreme Court blocked his initial attempt.</p><p class="gnt_ar_b_p">Under the proposed plan, more than 4 million borrowers who have been paying down their student loans for 20 years or more could have their debt completely canceled, according to the White House. The plan would also help more than 10 million borrowers by giving them $5,000 or more in relief, Biden's administration said.</p><p class="gnt_ar_b_p">Biden also aims to help 23 million borrowers by eliminating interest past the original loan amounts.</p><figure class="gnt_em gnt_em_img"><img class="gnt_em_img_i" style="height:440px" fetchpriority="high" data-g-r="lazy" src="https://www.usatoday.com/gcdn/authoring/authoring-images/2024/04/09/USAT/73263856007-usatsi-22973225.jpg?width=660&height=440&fit=crop&format=pjpg&auto=webp" srcset="https://www.usatoday.com/gcdn/authoring/authoring-images/2024/04/09/USAT/73263856007-usatsi-22973225.jpg?width=1320&height=880&fit=crop&format=pjpg&auto=webp 2x" decoding="async" alt="President Joe Biden speaks Monday, April 8, 2024 at Madison Area Technical College in Madison, Wisconsin."/></figure><h2 class="gnt_ar_b_h2">How to apply for student loan forgiveness?</h2><p class="gnt_ar_b_p">If eligible for debt relief, borrowers should periodically check their emails for updates from their student loan servicers and <a target="_blank" href="https://studentaid.gov/manage-loans/forgiveness-cancellation" data-t-l=":b|z|k|${u}" class="gnt_ar_b_a" rel="noopener">Federal Student Aid</a>.</p><p class="gnt_ar_b_p"><strong>Learn more:</strong> <a target="_blank" rel="noopener" data-t-l=":body nav (pl)|e|auto spike click:7|${u}" class="gnt_ar_b_a" href="https://www.usatoday.com/money/blueprint/personal-loans/best-personal-loans/">Best personal loans</a></p><p class="gnt_ar_b_p">While Biden works on his final proposal, eligible borrowers can apply on the Federal Student Aid website for other kinds of relief, including if they have a <a target="_blank" href="https://studentaid.gov/forms-library/" data-t-l=":b|z|k|${u}" class="gnt_ar_b_a" rel="noopener">disability</a>, <a target="_blank" href="https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service/public-service-loan-forgiveness-application" data-t-l=":b|z|k|${u}" class="gnt_ar_b_a" rel="noopener">work for a nonprofit</a>, or are a <a target="_blank" href="https://studentaid.gov/manage-loans/forgiveness-cancellation/teacher#how-and-when-do-i-apply-for-teacher-loan-forgiveness" data-t-l=":b|z|k|${u}" class="gnt_ar_b_a" rel="noopener">teacher</a>, <a target="_blank" href="https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service/public-service-loan-forgiveness-application" data-t-l=":b|z|k|${u}" class="gnt_ar_b_a" rel="noopener">government employee</a> or <a target="_blank" href="https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service/public-service-loan-forgiveness-application" data-t-l=":b|z|k|${u}" class="gnt_ar_b_a" rel="noopener">medical professional</a>.</p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p">Borrowers repaying their loans for 20 to 25 years can apply for income-driven repayment (IDR) loan forgiveness.</p><p class="gnt_ar_b_p">Several other loan forgiveness options are available on the Federal Student Aid website, but borrowers should...</p></div> <style> .wrapper { text-align: center; } </style> <div class="wrapper"> <a class="button" href ="https://www.usatoday.com/story/money/personalfinance/2024/04/09/student-loan-forgiveness/73262456007/">Read more <span>➤</span></a> </div>
