Clicking submit completes the electronic signature process. A co-maker is one of the two individuals who are joint borrowers on a Direct or Federal Consolidation Loan or a Federal PLUS Loan. Both co-makers are responsible for repaying the full amount of the loan. If you have comments or concerns regarding the status of your individual submission of this form, please contact your loan holder directly .

• For example, if you’re a full-time employee of a public school system, your employment would meet the requirements for PSLF, regardless of your position (teacher, administrator, support staff, etc.).
• Department of Education, only some applicants will be contacted and required to provide proof of income.
• A deferment is a period during which you are entitled to postpone repayment of your loans.
• Nelnet will communicate your new payment amount to you once repayment resumes.

This applies to certain Forgiveness Applications or educational service agencies that serve primarily low-income families. To assist program administrators with tracking refunds and cancellations, disclosures may be made to guaranty agencies, to financial and educational institutions, or to federal or state agencies. To provide a standardized method for educational institutions to efficiently submit student enrollment statuses, disclosures may be made to guaranty agencies or to financial and educational institutions. To counsel you in repayment efforts, disclosures may be made to guaranty agencies, to financial and educational institutions, or to federal, state, or local agencies. A deferment is a period during which you are entitled to postpone repayment of your loans. Interest is not generally charged to you during a deferment on your subsidized loans.

Here’s a complete list of student loans eligible for forgiveness:

Our mission is to promote student achievement and preparation for global competitiveness by fostering educational excellence and ensuring equal access. In a press briefing on Monday, White House press secretary Karine Jean-Pierre said the Biden administration has seen an “overwhelmingly strong response” to the new site since its launch. Like other Direct Loans, Direct PLUS Loans are eligible for PSLF. Direct PLUS Loans are made to graduate and professional students. Direct PLUS Loans made to parents may need to be consolidated.

This will help keep the due dates for all loan groups aligned. We’ll review your loan forgiveness application and supporting documents, then submit the completed application to the U.S. However, Biden administration officials said there may be cases where some applicants are required to provide more documentation to confirm they are eligible. For instance, borrowers who “are more likely to exceed the income cutoff” may have to provide tax returns or other documents to confirm their income meets the eligibility requirements, an official said.

What Is Federal Student Loan Debt Relief?

After the decision, the Biden admin closed the application. — Daniel may be eligible to receive credit towards PSLF from his 8 years of service in the U.S. In order to receive the full benefit of the temporary changes, he will need to apply to consolidate his loans into the Direct Loan program and apply for PSLF by October 31.

If your loans are managed by servicers not listed above, they are privately held and ineligible for forgiveness. Our experts answer readers’ student loan questions and write unbiased product reviews (here’s how we assess student loans). In some cases, we receive a commission from our partners; however, our opinions are our own. “I’m keeping my commitment to relieve student debt as borrowers recover from this economic crisis caused by the once-in-a-lifetime pandemic,” President Joe Biden said on Monday. In the event that a borrower or a student who is the dependent on a PLUS loan passes, the loan can be discharged without any further payments made on the loans.

Who could be eligible to have their student loan debt canceled?

Only people who meet the income requirements are eligible for debt forgiveness through this program. The application requires borrowers to sign the form and affirm that they made less than $125,000 individually or less than $250,000 as a married couple in 2020 or 2021. Cardona has encouraged borrowers to complete the application by Nov. 15 in order to receive relief before the pandemic-related pause on student loan repayment ends on Dec. 31. You can always pay more without penalty, which will reduce your total cost of borrowing and save you money in the long run. If you are not required to make a payment this month, you won’t be considered past due if you don’t make a payment or pay less than your regular monthly payment amount. However, we encourage you to continue paying as much as you can even if your current amount due is $0 because interest may continue to accrue on your outstanding principal balance.

Before making any such disclosure, we will require the contractor to maintain Privacy Act safeguards. Disclosures may also be made to qualified researchers under Privacy Act safeguards. You have the option to request one-time online payments not advance your due date more than one month. Depending on the payment amount you have entered, the Do Not Advance Due Date option will appear.