Biden administration previews student loan forgiveness website

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The Biden administration on Tuesday offered a preview of the student loan forgiveness website, which it described as "short and simple" ahead of its launch expected later this month.In August, President Joe Biden announced his decision to cancel up to $10,000 in student loan debt for individuals making less than $125,000 a year or as much as $20,000 for eligible borrowers who are also Pell Grant recipients.Officials said the website will be live "later this month" and applications will be open through December 2023 but declined to provide a specific launch date. The form was shared with reporters via a PDF file on Tuesday as preparations are underway to begin the process."We've worked really hard to make this application simple and straightforward. We kept the number of questions to a minimum and designed it in collaboration with user testing. Borrowers will not need to log in with their FSA ID. They will not need to upload any documents. The application will be available on both computers and mobile devices. It will be available in both English and Spanish and of course accessible to people with disabilities," a senior administration official briefing reporters said Tuesday.The form to apply includes information on the debt relief, who qualifies for it and how it works. It asks applicants for information including their full names, Social Security number, date of birth, phone number and an email address.A second administration official said that the "vast majority of borrowers, nearly 95% with qualifying loans, meet the income requirement," adding that there will be "strict fraud prevention measures in place."The form said that the Department of Education will determine eligibility and get in contact with applicants if more information is needed.Officials said that the "goal" is to begin to get the debt relief processed ahead of next January, when student loan payments will begin after a multi-year freeze amid the COVID-19 pandemic."We hope and expect to deliver student debt relief to millions of Americans before the loan repayments restart. And we expect the process from a completed application to debt relief for the vast majority of borrowers to happen in a matter of weeks," the first official said.Borrowers will also be required to agree with a series of terms, including verification that they are the individual applying and that they will provide proof of income to the Department of Education if it is requested. They will also be required to certify that the information provided is accurate upon penalty of perjury.There are also efforts underway to ensure the website does not crash amid high expected demand from borrowers, including additional support for web traffic and web volume.

WASHINGTON —

The Biden administration on Tuesday offered a preview of , which it described as "short and simple" ahead of its launch expected later this month.

In August, President Joe Biden announced his decision to cancel up to $10,000 in student loan debt for individuals making less than $125,000 a year or as much as $20,000 for eligible borrowers who are also Pell Grant recipients.

Officials said the website will be live "later this month" and applications will be open through December 2023 but declined to provide a specific launch date. The form was shared with reporters via a PDF file on Tuesday as preparations are underway to begin the process.

"We've worked really hard to make this application simple and straightforward. We kept the number of questions to a minimum and designed it in collaboration with user testing. Borrowers will not need to log in with their FSA ID. They will not need to upload any documents. The application will be available on both computers and mobile devices. It will be available in both English and Spanish and of course accessible to people with disabilities," a senior administration official briefing reporters said Tuesday.

The form to apply includes information on the debt relief, who qualifies for it and how it works. It asks applicants for information including their full names, Social Security number, date of birth, phone number and an email address.

A second administration official said that the "vast majority of borrowers, nearly 95% with qualifying loans, meet the income requirement," adding that there will be "strict fraud prevention measures in place."

The form said that the Department of Education will determine eligibility and get in contact with applicants if more information is needed.

Officials said that the "goal" is to begin to get the debt relief processed ahead of next January, when student loan payments will begin after a multi-year freeze amid the COVID-19 pandemic.

"We hope and expect to deliver student debt relief to millions of Americans before the loan repayments restart. And we expect the process from a completed application to debt relief for the vast majority of borrowers to happen in a matter of weeks," the first official said.

Borrowers will also be required to agree with a series of terms, including verification that they are the individual applying and that they will provide proof of income to the Department of Education if it is requested. They will also be required to certify that the information provided is accurate upon penalty of perjury.

There are also efforts underway to ensure the website does not crash amid high expected demand from borrowers, including additional support for web traffic and web volume.

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