Step-by-Step Guide to Getting Your Student Loans Repaid | 103.7 FM 80s+

Do you have student loans? You may qualify for the Student Loan Forgiveness Plan.

The U.S. Department of Education (ED) will provide up to $20,000 in debt relief to Federal Pell Grant recipients and up to $10,000 in debt relief to non-Grant recipients Pel. Borrowers whose loans are held by ED are eligible for this relief if their individual income is below $125,000 (or $250,000 for households).

Step 1: Check if you are eligible

You qualify for student loan debt relief if your annual federal income was less than $125,000 (single or married, filing separately) or $250,000 (married, filing jointly or head of household) in 2021 or 2020.

  • $20,000 in debt relief: If you received a Pell grant in college and meet the income threshold, you will be eligible for debt relief of up to $20,000.
  • $10,000 in debt relief: If you did not receive a Pell grant in college and meet the income threshold, you will be eligible for debt relief of up to $10,000.

Step 2: Prepare

Here’s what you can do to prepare and ensure you receive our updates:

  • Log in to your account on StudentAid.gov and make sure your contact information is up to date. We’ll send you updates via email and SMS, so be sure to sign up to receive SMS alerts. If it’s been a while since you logged in, or if you can’t remember if you have a username and password (FSA ID), we have some tips to help you access your account.
  • If you do not have a StudentAid.gov account (FSA ID), you must create an account to help manage your loans.
  • Make sure your loan manager has your most recent contact information so they can reach you. If you don’t know who your service agent is, you can log in and see your service agent(s) in your account dashboard.

Step 3: Submit your application (if available)

The application will be available online in early October 2022.

We’ll share updates on this page and email you when the app becomes available. You will have until December 31, 2023 to submit your application.

For all the information you need CLICK HERE!

photo credit: Getty


Source link

Back To Top