HomeMy WebLinkAbout101822 FW_ Updates on the Biden-Harris Administration's Student Debt Relief Plan
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From: White House Intergovernmental Affairs
Sent: Monday, October 17, 2022 1:44:10 PM (UTC-08:00) Pacific Time (US & Canada)
To: Heidi Eisenhour
Subject: Updates on the Biden-Harris Administration's Student Debt Relief Plan
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ALERT: BE CAUTIOUS This email originated outside the organization. Do not open attachments or click on links if you are not expecting them.
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October 17, 2022
Updates on the Biden-Harris Administration's Student Debt Relief Plan
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The Biden-Harris Administration’s student debt relief portal has officially launched!
President Biden announced this afternoon that millions of working and middle class borrowers can apply for student debt relief right NOW at studentaid.gov/debtrelief/apply. <https://whitehouse.us10.l
ist-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=94cf4d14a8&e=1b00b68fe6>
The application takes less than 5 minutes. It’s available in English and Spanish on desktop and mobile devices. And you don’t need to log in with an FSA ID or to upload any documents
to apply.
The Administration’s plan will provide up to $10,000 in relief to borrowers with federal student loans and up to $20,000 in relief to borrowers who were Pell Grant recipients. Borrowers
who earned less than $125,000 as an individual or $250,000 as a household in 2020 or 2021 are eligible for relief.
The Administration’s plan will help borrowers who need relief the most as they recover from the pandemic and prepare to resume loan payments this January. Already, more than 8 million
people have applied for relief – that’s 8 million people on their way to getting a little more breathing room.
Learn more and apply now at studentaid.gov/debtrelief/apply <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=3d42dee2d8&e=1b00b68fe6> .
Click here t <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=6aab58fb99&e=1b00b68fe6> o access the Application in English <https://whitehouse.us10.list-manage.com/
track/click?u=f620288bb41dd81f9c715ef4d&id=f726469bf6&e=1b00b68fe6>
Click here t <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=f76e71583d&e=1b00b68fe6> o access the Application in Spanish <https://whitehouse.us10.list-manage.com/
track/click?u=f620288bb41dd81f9c715ef4d&id=6781a8dfb4&e=1b00b68fe6>
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Key Facts:
* Student Debt Relief will have a big impact on middle class people. 40 million people are eligible. 20 million people could have their federal student debt wiped out completely.
* Nearly 90% of relief dollars will go to borrowers earning less than $75,000 per year. And no one making over $125,000 per year is eligible.
* A post-high school education should be a ticket to the middle-class. But the cost of college has skyrocketed. Giving debt relief to borrowers as they start to repay their loans will
give people the breathing room they need to be able to invest in buying homes and starting businesses. Go to studentaid.gov <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c7
15ef4d&id=bbaacccf89&e=1b00b68fe6> and apply today.
* The debt relief application will be available to all borrowers through Dec. 31, 2023.
* For those who can’t apply online, a paper version of the form will be made available soon. You’ll have until the end of 2023 to apply.
What Am I Eligible For?
* Up to $20,000 in debt relief if you received a Federal Pell Grant in college and meet the income requirements <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=afd
3477b1c&e=1b00b68fe6>
* Up to $10,000 in debt relief if you didn’t receive a Federal Pell Grant in college and meet the income requirements <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&
id=9590851448&e=1b00b68fe6>
* 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.
Frequently Asked Questions in English <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=4295af05f6&e=1b00b68fe6>
Frequently Asked Questions in Spanish <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=8a1f3056dc&e=1b00b68fe6>
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Office of Intergovernmental Affairs · 1600 Pennsylvania Ave NW · Washington, DC 20500-0005 · USA · 202-456-1111
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