Student Loan Forgiveness Application Now Live Through Beta Site

Graduates cheer in excitement during their college graduation ceremony.

Madison Wechsler, center, commemorates with her fellow graduates throughout a graduation event for Pace University at the USTA Billie Jean King Tennis Center in New York, Monday, May 16, 2022. Student loan customers have till Dec. 31 to send their application for trainee loan forgiveness with the U.S. Department of Education. Seth Wenig/AP Photo

Student loan customers can now get as much as $20,000 in one-time loan relief after the U.S. Department of Education (DOE) introduced a beta application.

The DOE stated it began performing this soft launch on Oct. 14 to exercise any problems ahead of the complete rollout, which is anticipated at some point later on this month.

You might get an e-mail from the DOE with a link to use through the beta website. You can likewise access the application here. 

Applications won’t be processed till the complete website formally releases later on this month.

Once the complete website goes live, customers will have till Dec. 31, 2022, to send an application. However, specialists advise sending your application as quickly as possible.

What to Expect on the Student Loan Forgiveness Application

You may experience some small bugs or problems if you send your application throughout the beta test.

But if it goes through, you’re great to go, according to the DOE.

“If you submit an application, it will be processed, and you won’t need to resubmit,” the company kept in mind on its site.

The application itself is extremely simple, which DOE displayed in a video recently. You’ll require to go into standard info, including your name, Social Security number, telephone number and birth date.

There’s no login or FSA ID needed, and you won’t send your monetary info with the application.

It takes 5 minutes or less to finish.

The DOE might connect to you by e-mail after you send your application if:

  • They require extra paperwork from you to validate your earnings.
  • If you were registered as a “dependent student” anytime in between July 1, 2021, and June 30, 2022, they might require info about your moms and dads’ earnings.
  • The DOE can’t match you to their loan records based upon the info in your application.

Who Qualifies for Student Loan Forgiveness?

If you earned less than $125,000 in 2020 or 2021 ($250,000 per family), you can receive as much as $10,000 in financial obligation relief.

Borrowers who got a Pell Grant in college are qualified to get $20,000 in forgiveness. Pell Grants don’t need to be paid back however are offered based upon monetary requirement.

Pro Tip

Income requirements are based upon your adjusted gross earnings (AGI), which tends to be lower than your overall earnings. Your AGI can be discovered on line 11 of the INTERNAL REVENUE SERVICE Form 1040.

After You Submit Your Application for Forgiveness

The DOE will alert you when your application is authorized.

Your loan servicer will call you when your financial obligation relief has actually been used. Your servicer will likewise provide you updates about your exceptional loan balance and upgraded month-to-month payment quantity if you still have a balance.

Student Loan Forgiveness Faces Legal Challenges

The Biden Administration revealed in August that more than 43 million trainee loan customers will be qualified for either $10,000 or $20,000 in financial obligation forgiveness.

The executive action is approximated to cost $400 billion or more and is presently dealing with legal obstacles in court.

At least 5 significant suits are currently in the works. If an injunction is given, the application and/or financial obligation relief procedure might be stopped till a decision is made.

That’s why specialists advise sending your application as quickly as possible.

Rachel Christian is a Certified Educator in Personal Finance and a senior author for The Penny Hoarder.


A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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