Study Abroad News & Alerts

Student loan debt cancellation application is available now

posted on: October 17, 2022

A website initiated by the President of the USA, Joe Biden dealing with student loan debt cancellation has gone live. Till now more than 8 million candidates have already applied for debt cancellation. Biden previously announced to relieve a student debt of up to $20,000. The application which is available in beta form has now gone online. It is available through the Education Department’s Federal Student Aid office. In order to be eligible for the Dad cancellation, the borrowers must submit their date of birth and Social Security numbers. They also must be able to meet the income eligibility requirements. The process is quite simple and can be done by anyone. It will just take five minutes. It is expected that borrowers who have applied in the month of October will see the financial reflection in their accounts within one month. The biggest concern for the government right now is to make sure that the process goes on smoothly. As hundreds and thousands of people are applying for debt cancellation, they have to make sure that the system doesn't crash. All the possible loopholes are being detected and solved as soon as possible.

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