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.
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