Good News for Students As They Can Now Apply for Loan Waivers

    The application procedure for student loan forgiveness started officially with President Joe Biden on Monday. Eight million students have applied for loan relief already, during which the program dedicated to student debt forgiveness was launched as a trial over the last weekend.




    The process

    The President asked students eligible for debt relief to go to the official website studentaid.gov and fill out the application form. The form can be filled up in just five minutes, said Biden while announcing the official kick-start of the program. A beta version of the form was available online from Friday onwards, and the President mentioned that the online application process also was relatively smooth.

    Biden’s stand

    Joe Biden called it a “life-changing relief” that over eight million Americans were about to get soon in the form of loan forgiveness.

    During the soft or test launch of the program, the number of applicants already amounted to over one-fourth of the total applicants estimated by the administration. Biden launched the program to relieve the borrowers from their student debts of $10,000 if their incomes are less than $125,000 per year or their family incomes are less than $250,000 per year. The program also includes an additional $10,000, which would be granted to the college students receiving federal Pell Grants, making twenty million students eligible for student loans forgiven entirely.

    The program gained immense popularity even before its start, and numerous borrowers wanted to get debt free.

    Keeping the commitment

    Joe Biden promised to launch this program when he was fighting the presidential elections but couldn’t implement it soon after his win because of several issues, including questions arising on its legality. There were debates, and the Republicans said it was unfair.

    Biden defended his stand while announcing the program and said that he aimed to work for the people and he just kept the commitment by launching the loan forgiveness program.



    RELATED ARTICLES

    Monetize Magnet

    Monetize Magnet Review – The Best Crypto and Forex CPA Network

    In today's world, cryptocurrency has reached new heights, expanding continuously and providing online earning opportunities...
    Payback LTD

    Payback LTD Review (Payback-ltd.com) – Find out Why This Fund Recovery Service Provider

    Payback LTD Review Losing your hard-earned money in what seemed like a good opportunity can be...
    Financial Investments

    Understanding Risk Management Strategies for Financial Investments

    In the ever-evolving landscape of finance, understanding and effectively managing risks associated with investments is...
    Debt Management

    Mastering Debt Management Strategies for Long-Term Financial Health

    In the pursuit of financial stability, managing debt effectively stands as a crucial pillar. Debt...
    Index Fund

    5 Key Strategies to Invest Your 1 Lakh Investment in an Index Fund

    If you are an Indian investor with Rs 1 lakh in hand, ready to venture...
    Trading Platforms

    Navigating the Modern Landscape of Online Trading Platforms

    In the ever-evolving realm of financial markets, one of the most significant milestones has been...
    MBA Programme

    Dual Degree MBA Programme: A Unique Educational Opportunity

    In today's world, professional success requires more than traditional management skills. It calls for a...
    women ipl

    Women IPL Sensation Shreyanka Patil: From Fan to Champion

    In a cricketing universe usually ruled by dudes, Shreyanka Patil, the rookie wonder for Royal...
    Monetize Magnet

    Monetize Magnet Review – The Best Crypto and Forex CPA Network

    In today's world, cryptocurrency has reached new heights, expanding continuously and providing online earning opportunities...
    celsius drink

    Celsius Drink – What Is It and How Safe Is It?

    These days, you must come across your social media feeds with an advertisement for a...
    low porosity hair

    Low Porosity Hair Problem? Slay Locks with Moisture Miracle

    Have you ever experienced your hair being stubbornly resistant to moisture? That's low porosity hair...