Since President Joe Biden announced the student loan forgiveness plan, many people with student loan debt were asking when will the loan actually be forgiven. That time is now.

The United States Department of Education has officially launched a beta site to begin accepting applications for qualifying borrowers to submit. The site is “https://studentaid.gov/debt-relief/application“.

Borrowers who earn less than $125,000 a year, or families earning less than $250,000, would be eligible for a $10,000 loan forgiveness. Recipients of Pell Grants would be eligible for the $20,000 loan forgiveness.

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