Student Loan Forgiveness: Four Important Dates

President Joe Biden made a campaign promise to offer student loan forgiveness, and recently the details have been released on how it will work. If you earn less than $125,000 annually, you could be eligible for $10,000 in loan forgiveness. This is great news for those of us who are struggling with student loan debt! However, there are still a lot of questions about how this program will work and what you need to do to qualify.

You can register to be notified when the application is available through the Department of Education by filling out this form.

October 2022

Application for Student Forgiveness will be released. The Department of Education is recommending everyone apply regardless if they have automatic forgiveness or not.

November 15, 2022

Apply for student loan forgiveness by this date because there’s a 4-6 week turnaround for forgiveness; doing so will ensure you receive your loan discharge before regular payments resume and interest begin accruing again.

January 1, 2023

If your entire balance is not erased, interest will begin accruing again on the remaining balance, and regular payments will resume

December 31, 2023

Final deadline to apply for student loan forgiveness

You can register to be notified when the application is available through the Department of Education by filling out this form.