Biden Launches Student Loan Waiver Application | CNN Politics

CNN — US President Joe Biden announced the official launch of a federal application for Americans seeking student loan waivers on Monday. “Today, I am announcing that millions of workers are working and that middle-class people can apply for this relief. Now that’s simple. It’s easy,” Biden said at the White House with Education Secretary Miguel Cardona. “This is a game changer for millions of Americans … and it took a tremendous amount of effort to get this website up and running in such a short amount of time.” Individuals wishing to apply for student loan repayment can now complete the form at Studentaid.gov in English or Spanish. This form contains information about debt relief, eligibility and how it works. We ask the applicant for information including name, social security number, date of birth, phone number and email address. A beta version of the website was released on Friday evening, and Biden said more than 8 million Americans used the website to fill out applications over the weekend. Former Vice President Joe Biden announced in August that he would withdraw up to $10,000 for individuals making less than $125,000 in annual income and up to $20,000 for eligible borrowers who are also Pell grant recipients. Borrowers must have student loans from the federal government to be eligible. In addition to federal direct loans used to pay for undergraduate degrees, federal PLUS loans borrowed by graduate students and their parents may also be eligible if the borrower meets income requirements. Individuals making less than $125,000 in 2020 or 2021, and a married couple or head of household making less than $250,000 in annual income in that year, may be eligible for federal student loan debt relief of up to $10,000. Income criteria are based on adjusted gross income. The official launch of the application marks the next step in a large tech initiative for federal agencies and student loan services agencies to provide broad relief to tens of millions of borrowers. The President praised “a group of talented data scientists and engineers from across the federal government” who “built, tested, and released this new application in just a few weeks.” In a few days of application beta testing, Biden said the website “processed more than 8 million applications without any glitches or difficulties.” “As millions of people fill out applications, we will ensure that the system continues to run as smoothly as possible to provide student loan relief to millions of Americans as quickly and efficiently as possible,” he added. The Department of Education faces several laws that challenge student loan forgiveness policies. A U.S. district judge could soon decide whether to temporarily block the program’s enforcement after hearing a preliminary restraining order last week. Cancellation of student loans may be withheld until a judge makes a final ruling on the case. At the end of his speech on a lawsuit that challenges the plan, Biden said he thinks the administration’s plan will be upheld in court. In a speech on Monday, former Vice President Biden called Republican critics “wrong” and “hypocritical” at the outrage of Republican critics over the student loan plan. “I will never apologize for helping working Americans and middle-class people during their recovery from the pandemic,” he said. In particular, Republicans who voted in favor of $2 trillion in tax cuts in the last administration have largely benefited the wealthiest Americans and large corporations, but run the deficit without paying a penny, he added. While federal student loans are covered by the government, borrowers held by private lenders (mostly under the former Federal Family Education Loan Program and the Federal Perkins Loan Program) are currently excluded. Until September 29. When asked by CNN’s MJ Lee that people with private loans can’t get massive relief, Cardona said the administration is “moving around as quickly as possible to provide relief to as many people as possible.” This is breaking news and will be updated.

#Biden #Launches #Student #Loan #Waiver #Application #CNN #Politics

Leave a Comment

Your email address will not be published. Required fields are marked *