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On Monday, President Biden announced that the application for his student loan relief program was officially online.
The administration released a beta version of the app last week. Since its launch on Friday, more than 8 million borrowers have already applied for debt relief, with no issues or crashes reported according to the White House.
“It’s easy. It’s fast,” Biden said at a press conference announcing the launch, noting that apps take less than 5 minutes and can be done on a desktop or phone.
“It’s a game-changer for millions of Americans to get moving.”
Biden’s plan is to forgive up to $10,000 in debt for those earning less than $125,000 a year and up to $20,000 for those who received Pell grants.
Among other things, the application asks for the name, date of birth and social security number of the borrowers. The form is available in English and Spanish on desktop and mobile sites. It will be open until December 31, 2023.
Borrowers won’t need what’s called an FSA ID to log into the app, nor will they need to upload any documents, including tax records. Instead of having to provide documentation showing that you, as an individual, earned less than $125,000 in 2020 or 2021 or, as a couple, less than $250,000, the application simply asks borrowers to check a box to “certify under penalty of perjury under the laws of the United States of America that all information provided on this form is true and correct.”
The administration estimates that more than 40 million people will be eligible for the relief package.
Deepa Shivaram contributed to this story.