UPDATED: Take 5 minutes to complete new federal student loan debt relief application (we show you how)

Millions of Americans are eligible for thousands of dollars in relief after President Biden rolls out student debt relief application

Millions of Americans are eligible for thousands of dollars in relief after President Biden rolls out student debt relief application. Canva photo

Kathryn Gray, Editor-In-Chief

Update, Oct. 24 at 12:50 p.m.: The federal student loan debt relief plan was temporarily blocked by a federal appeals court on Oct. 21, but borrowers can still submit the application online. 

The federal student loan debt relief application is officially available online, according to studentaid.gov

A beta version, launched on Oct. 14 to check for kinks in the system, attracted 8 million borrowers who successfully completed the application before the official launch on Oct. 17, according to Whitehouse.gov.

“It means more than 8 million Americans are starting this week on their way to receiving a life-changing relief that they’re looking for,” President Biden said at a press conference on Oct. 17.

Borrowers will be eligible to have up to $20,000 of their student debt forgiven. 

Single individuals making less than $125,000 in 2020 or 2021 and married individuals making less than $250,000 will qualify for $10,000 in relief. 

Single borrowers making less than $125,000 and married borrowers making less than $250,000 who also received a Pell Grant will be eligible for an additional $10,000 in relief, according to studentaid.gov

The application is open through Dec. 31, 2023. 

Applicants must submit their first and last names, social security number, date of birth, phone number and email.

This video outlines the process.