APPLICATIONS OPEN: The U.S. Department of Education launched the application process for those seeking student loan forgiveness in ‘beta mode’ as of Friday night, multiple reports say. This is what you need to know 👇
This comes after President Biden announced his decision to cancel up to $10,000 in student loan debt for those making less than $125,000 yearly, or up to $20,000 if borrowers were also Pell Grant recipients., the application website is currently in a test stage, as those who were able to submit their application do not need to reapply when the website goes live later this month.
However, applications submitted during this test period will not be processed until the official site launches, CNN reported.During the beta test period, the department’s technical team will sometimes pause the site to assess, refine and maintain certain areas of the website,. Borrowers are encouraged to check back if the website is paused, or return until it officially launches.
The official date of the site launch was not revealed as of Saturday, however, a “full rollout” is expected to come later this month, according to CNBC.
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