In August, President Biden passed a bill for student loan relief. This bill creates the opportunity for people with student loan debt to apply for relief. The application to apply for student loan relief is now live. Biden says almost 22 million people have already registered.
It is estimated that nearly 44 million Americans may benefit from his plan. Those applying for student loan relief may earn up to $10,000 in relief. Households earning less than $225,000 annually may also be eligible for a similar amount.
Biden has promised his bill to be an easy process for those applying. Molly Murphy, an Indiana University-Bloomington student recently applied for student relief using Biden’s bill.
On the process of applying, she said, “It was very easy- easier than I thought. I saw other people talking about it on Twitter saying they were scared to open it because they thought it was going to be a long, intimidating process. It wasn’t like that at all, it was really easy.”
Murphy has yet to hear about the status of her application, but she is hopeful to hear back soon. It is still unclear when Biden will begin rolling out relief to students, and the exact amount households and students will be receiving. If you or someone you know is interested in applying for student loan relief visit www.studentaid.gov/debt-relief/application.