(WWLP) – There is hope for millions of student loan borrowers, as the federal student loan forgiveness application is now live.
This is a very simple application. In total, there are less than 15 questions, including your first and last name and email.
To fill out an application you can go to studentaid.gov. The first thing you’ll see is a brief explanation, that explains who qualifies and how much borrowers can receive in relief.
On the application, you will need your date of birth and social security number to apply. Once you fill out your information, you need to sign electronically. That’s it.
The following dates are important to remember. Even though the application is open, people have until December 31, 2023, to apply. However, people are encouraged to submit before November 15 of this year.
The application’s ‘beta’ form was released last week, the current version is the official application. After submitting, borrowers could expect relief within 4 to 6 weeks. The application takes no more than 5 minutes to fill out.
For those who do not qualify, or have existing loans after the relief, repayments begin in January 2023.