A friendly reminder to apply for loan forgiveness , it only takes a few seconds. *Reblog – originally published October 3,2022*
Schoolology Category, Chapter 3
Get ready… GO! Student loan forgiveness applications are O P E N!
As with anything available to the masses, the sooner you apply, the better. BreeziDeezi readers are encouraged to apply before October 31st, for maximum flexibility in forgiveness!
In case you need a reminder or to be informed, here is the criteria for loan forgiveness and detailed steps on how to apply:
Who Qualifies for Loan Forgiveness?
- Individuals who earned $125,000 or less in 2020 or 2021 and Households who earned $250,000 or less in 2020 or 2021 are eligible for at least $10,000 in federal student loan debt forgiveness.
- Recipients of Pell Grants – usually awarded to low-income undergrads – can receive up to $20,000 in relief.
- Current students, IF they have loans taken out before 6/30/22.
- Public service workers (people working for federal, state, local, tribal government, military, or a non-profit organization) with at least 10 years of service (It doesn’t need to be consecutive.) may be eligible to have all their debt canceled.
- Those that have paid student loans between March 2020 and August 2022 and now owe less than $20,00, can request a refund through their loan provider.
- ANYONE with student debt repayments has been given a final pause that will end in January.
How to Apply!
Click here for the direct link!
- If you do not already have an account on Studentaid.gov, start by creating an account. or, Log In. Record your FSA ID (assigned when you create your account). Click here for the direct link!
- Complete the short online application – no supporting documents are needed.
- Once the application is complete, the US Department of Education will review and determine your eligibility. They will also notify your loan servicer of your forgiveness amount. If additional information is needed, the department of Education will contact you.
Unsure of your loan servicer? Log into Studentaid.gov, click menu and then select “my aid”. 😉
If you have further information or tips , please share in the comments. Cheers to forgiveness and financial progress!