The Biden administration launched a beta version of its student loan forgiveness application process.
-Just before the weekend, the Biden administration launched a beta version of its student loan forgiveness application process.
It allows borrowers to sign up online before the official website in unveiled later this month. It also will be a testing period that will allow for site monitoring to work out any bugs prior to the official launch.
Tens of millions of dollars in student loan debt could be cancelled.
The forgiveness applies only to loans issued or held by the federal government. It doesn’t extend to loans issued or held by private lenders. Generally, if the payments and interest on the student-loan debt are still paused because of the pandemic, that debt is eligible for forgiveness.
The application, which is available here, is the first step to forgiveness.
The Department says the forms are easy to fill out .
The Education Department urges borrowers to apply by Nov. 15.
Some are opposed to the debt relief program, while others support excusing medical debt relief loans.
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