In August, the Biden Administration announced its goal to forgive between $10,000 and $20,000 of federal student loan debt for low-to-middle income borrowers. The application is currently open, and even though debt discharge is paused due to court order, it is strongly recommended that all current and former college students with federal loan debt should apply.

The motion for the court order came from six Republican-led states who thought Biden’s plan was an overstep of executive powers. This motion was picked up by a federal appeals court. Although debt cancellation was anticipated to begin in November, the timeline will as of now be pushed back. Applications are still open and will continue to go through the review process.

The application is available at studentaid.gov/debt-relief/application. The application officially closes Dec. 31, 2023, but the U.S. Department of Education recommends you apply as soon as possible. The application process should only take a few minutes to complete.

Students who received a Federal Pell Grant are eligible for up to $20,000 in debt relief, and students who have not received a Federal Pell Grant are eligible for up to $10,000 in debt relief. Students are qualified if they have federal loans and are individuals that have made less than $125,000 in 2021 or 2020 or their families have made less than $250,000 in 2021 or 2020.

Visit the Federal Student Aid’s page for additional information.