Debt relief information and details are evolving, but we can share basic information as we know it now:
Federal Student Aid and the Biden-Harris administration announced loan forgiveness plans of up to $20,000 for former Pell Grant recipients and up to $10,000 for all other borrowers.
Details of how this program will work, who is eligible, and how borrowers will apply for loan forgiveness have yet to be released by Federal Student Aid. The University does not have more information at this time than has been shared publicly. The University will provide further information as it becomes available.
There are several sources of information that may be useful while waiting for the details:
Borrowers who wish to receive information about this from Federal Student Aid can sign up to receive notifications:
We have learned that Federal Student Aid will use the information they already have on file to make this process as easy as possible for borrowers. For example, Federal Student Aid has records on which students received Pell Grants, so students won’t have to ask their schools for this information.
Borrowers should understand that neither Federal Student Aid nor student loan servicing companies will call borrowers about this program. If you receive a phone call from a company offering to help you with this process, it is likely a scam.
The best resource for any questions you may have about this program is the Federal Student Aid website.