Student Loan Debt Forgiveness/Relief
It may be possible for some student loan borrowers to have their student loans forgiven or to get help with their loan payments. The following two programs are available at this time for borrowers who qualify:
- The Biden-Harris Administration’s Student Debt Relief Plan 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. The debt relief applies only to loan balances you had before June 30, 2022. Any new loans disbursed on or after July 1, 2022, aren’t eligible for debt relief. This program is for borrowers who made less than $125,000 in 2021 or 2020 and families that made less than $250,000 in 2021 or 2020. A simple application is available at https://studentaid.gov/debt-relief/application and the deadline for applying is December 31, 2023.
While the application is open, debt discharge is currently paused. As a result of a court order, the federal administration is temporarily blocked from processing debt discharges. You are still encouraged to apply if you are eligible as the review of applications continues.
- The Public Student Loan Forgiveness (PSLF) program forgives the remaining balance on your Direct Loans after you have made 120 qualifying payments while working full-time for a qualifying employer. Qualifying employers include governmental employers and many not-for-profit organizations. Only Direct Loan Program loans that are not in default are eligible for PSLF. Loans you received under the Federal Family Education Loan (FFEL) Program, the Federal Perkins Loan (Perkins Loan) Program, or any other student loan program are not eligible for PSLF. There is no deadline for application for this program. Use the PSLF Help Tool to determine if you are eligible and to complete the PSLF Application for loan forgiveness.
What Else Can I Do?
- Students can check their student aid history, including loan balances and Pell Grant recipient status by logging in to their federal student aid account on studentaid.gov. Make sure your contact information is up to date with your student loan servicer. If you don’t know who your servicer is, consult the Department of Education’s “Who is my loan servicer?” web page for instructions.
- Check out the Federal Student Aid Student Loan Forgiveness page for information about other types of loan forgiveness and discharge that might be available if you meet certain conditions. Specific questions about whether you will be eligible for loan forgiveness should be directed to your student loan servicer.
- If none of the loan forgiveness or debt relief options above apply to you, but you need help repaying your federal student loans, contact your loan servicer about options to:
- switch your repayment plan to lower your monthly payments,
- consolidate multiple federal loans into one loan which may result in a lower monthly payment, or
- apply for deferment or forbearance to temporarily postpone or reduce your payments.