How To Apply For The U.S. Student Loan Forgiveness?

Joe Biden has started his student loan forgiveness program. Millions of Americans can get $20,000 in debt relief.

It's an easy, five-minute application. Enter your info. Name, SSN, birth date, phone number, and email are required. It doesn't require income or loan documents.

Next, look over the rules for eligibility and make sure you meet them. Most people must declare they make less than $125,000 per year or $250,000.

If you meet the rules for being eligible, click the box that says everything you said is true. Click "Submit."

The Biden administration says that it will take four to six weeks to process the form after it has been sent in.

The Education Department will use its existing records to make sure your loans are eligible and to look for applicants whose incomes might be too high.

The Education Department thinks it will take about 30 minutes to fill out the verification application, which includes time to look over tax documents and upload them.

Most people who apply by mid-November should be able to eliminate their debt before January 1, when federal student loan payments resume.

Several legal challenges might make matters worse. Growing numbers of lawsuits aim to block the Biden administration's scheme.