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Student Loan Debt Forgiveness: Have You Applied Yet?
What’s up Boss Squad!?
How many of you have applied for student loan forgiveness? The pause on repayment and interest accrual has nearly come to an end. For some, there’s the looming possibility of monthly debits from bank accounts to satisfy debt payments. For many, there’s the red tape of asking for deferments, applying for loan rehabilitation, consolidation, and the ever popular, income-driven repayment plan.
What Is Federal Student Loan Debt Relief?
It’s a program that provides eligible borrowers with full or partial discharge of loans up to $20,000 to Federal Pell Grant recipients and up to $10,000 to non-Pell Grant recipients.
Who Qualifies?
- Individuals who made less than $125,000 in 2021 or 2020
- Families that made less than $250,000 in 2021 or 2020
If you filed federal taxes, your income requirements are based on your adjusted gross income (AGI), which tends to be lower than your total income. Your AGI can be found on line 11 of the IRS Form 1040.
How It Works
Apply today (but no later than Dec. 31, 2023). The Feds will determine your eligibility and will contact you if we need more information. Your loan servicer will notify you when your relief has been processed.
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Janean Watkins
Janean Watkins has over 20 years of experience in brand and website building, electronic communications, and content production. She has led numerous workshops and symposiums on a variety of topics, from literature to entrepreneurship. Currently, she's the curator and developer of Boss Chronicles, a new and growing web series focused on education and resources in the realm of entrepreneurship. As the Owner and Lead Consultant for Urban Matrix Creative Solutions LLC, Janean is working towards the UMAG's overall goal of building up the entrepreneurial community, one brand at a time.
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