Process for student loan forgiveness program starts next month
NORTH TEXAS (CBSDFW.COM) - If you've been wondering about next steps when it comes to applying for student loan debt forgiveness, the White House is providing some answers.
Those who are hoping to get this forgiveness say a new email from the U.S. Department of Education is providing some clarification. They can get this process started next month.
Erin Landry has student loan debt but says still, she's not necessarily in agreement with President Joe Biden's decision on forgiveness.
"It hurts innocent people who haven't gone to school and didn't have those student loans or maybe somebody already paid off their debt," she said.
However, since Biden is offering to forgive up to $10,000 in student loan debt for those making less than $125,000 a year and as much as $20,000 for eligible Pell Grant recipients, she says she might as well benefit.
"If everyone else is going to get their loans forgiven, why not get mine forgiven?" she said. "I need a home for my family and I'd love to put that money towards a home."
She said that so far, navigating through this process hasn't been easy..
"You read anything and it's just a back-and-forth, you just don't even know what's going on so it's just been a very confusing process," she said.
Robert Williams, who also has student loan debt, feels the same way.
"I've heard it might be a possible scam.. but I have heard on the news Biden is still behind it.. so if that's the case then I'm all for it," he said.
Next month, the U.S. Department of Education will launch a short online application. Applicants won't need to upload any supporting documents or use Federal Student Aid ID.
Once you submit the application, it will be reviewed and your eligibility for debt relief will be determined.
The White House is also sending out a warning about scams saying you might be contacted by a company that says they can help you for a fee. You never have to pay - make sure you only work with the U.S. Department of Education and their loan servicers.
