Student Debt Relief Plan
On Aug. 24, 2022, President Biden, Vice President Harris, and the U.S. Department of Education announced the Student Debt Relief Plan, a three-part plan to help working and middle-class federal student loan borrower’s transition back to regular payment as pandemic-related support expires. This plan includes a one-time student loan cancellation to be granted based on income, and it also extends the student loan payment pause through Dec. 31, 2022.
Many student loan borrowers and families may be asking themselves “what do I have to do to claim this relief?” There will be more details announced in the coming weeks. To be notified when the process has officially opened, you can sign up at the Department of Education subscription page.
To answer questions you may have and more, you can visit:
- https://studentaid.gov/debt-relief-announcement/
- Fact Sheet (8/24/2022): President Biden Announces Student Loan Relief for Borrowers Who Need It Most
- Fact Sheet (9/20/2022): The Biden-Harris Administration’s Plan for Student Debt Relief Could Benefit Tens of Millions of Borrowers in All Fifty States
- Fact Sheet (10/05/2022): Biden-Harris Administration Boosts Administration-Wide Efforts to Protect Student Loan Borrowers from Scammers
OR
- Contact your student loan servicer. Not sure who to contact, you can visit: https://studentaid.gov/manage-loans/repayment/servicers
