2022 Federal Student Aid Debt Relief Plan

Federal Student Aid Loan Forgiveness Plan

Federal Student Aid and the Biden-Harris Administration have announced a Federal Student Aid Loan Forgiveness Plan of up to $20,000 for prior Pell-Grant recipients and up to $10,000 for all other loan borrowers. To be eligible, borrower’s annual income must be below $125,000 (individuals) and $250,000 (married couples/head of households).

Borrowers can view their loan balances and check their Pell Grant status by logging into their Federal Student Aid account. Please visit the Federal Student Aid debt relief announcement for the most up-to-date information.

Please note, while the Office of Student Financial Services is more than happy to assist you, the most information up-to-date information is available on the resources on this page.

What do I need to do in order to receive loan forgiveness?

  • The Department of Education has so far just announced this plan. Further details will come. You can view the White House Fact Sheet to learn more about why this plan was announced.
  • Nearly 8 million borrowers may be eligible to receive relief automatically because relevant income data is already available to the U.S. Department of Education.
  • The U.S. Department of Education has a record of your prior federal student loan borrowing and receipt of federal Pell Grant funds.
  • If the U.S. Department of Education doesn't have your income data - or if you don't know if the U.S. Department of Education has your income data, the Administration will launch a simple application in the coming weeks.
  • The application will be available before the pause on federal student loan repayments ends on December 31st, 2022. Payments will restart on January 1st, 2023.
  • Borrowers who have more in federal student loan debt than what will be cancelled should still take steps to ensure they are in the right repayment plan before December 2022 The process to receive these benefits will vary for each borrower – some may be automatic while others will have an application process that is not yet available (be on the lookout) Details will continue to be rolled out over the coming days/weeks.
  • Borrowers who have more in federal student loan debt than what will be cancelled should still take steps to ensure they are in the right repayment plan before December 2022
  • The process to receive these benefits will vary for each borrower – some may be automatic while others will have an application process that is not yet available (be on the lookout). 
  • If you would like to be notified by the U.S. Department of Education when the application is open, please sign up at the Department of Education subscription page.