Federal student loan borrowers can now apply for debt relief online.
Eligible borrowers can get a full or partial discharge of loans up to $20,000. You must apply by Dec. 31, 2023. To qualify, your income must be below $125,000 a year, or your household earns less than $250,000
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Borrowers who received a Federal Pell Grant in college and meet the income requirements will receive up to $20,000 in debt relief. If you did not receive a Federal Pell Grant and meet the income requirements, you will receive up to $10,000 in debt relief.
The debt relief only applies to loan balances you had before June 30, 2022. Any new loans on or after July 1, 2022 aren’t eligible for debt relief. You will not be taxed in Michigan or at the federal level for debt relief.
The application is simple and should not take more than five minutes. If you are unable to apply online, a paper version of the application will be available soon.
- Click here to complete and submit the application for debt relief.
Read: More student loan forgiveness coverage
Below is information from the Student Aid website regarding the debt relief and the application.
What Is Federal Student Loan Debt Relief?
It’s a program that provides eligible borrowers with full or partial discharge of loans up to $20,000 to Federal Pell Grant recipients and up to $10,000 to non-Pell Grant recipients.
Who Qualifies?
- Individuals who made less than $125,000 in 2021 or 2020
- Families that made less than $250,000 in 2021 or 2020
If you filed federal taxes, your income requirements are based on your adjusted gross income (AGI), which tends to be lower than your total income. Your AGI can be found on line 11 of the IRS Form 1040.
How It Works
Apply today (but no later than Dec. 31, 2023). We’ll determine your eligibility and will contact you if we need more information. Your loan servicer will notify you when your relief has been processed.
How to apply
Click here to apply for federal student debt relief.
You will need to provide the following information.
- First Name
- Middle Initial (Optional)
- Last Name
- Former Last Name (Optional)
- Social Security Number (SSN)
- Confirm Social Security Number (SSN)
- Date of Birth (Month/Day/Year)
- Phone Number
- Email
- Confirm Email
You will be asked to review and submit the following agreement.
By signing this form, you agree with the following statements:
- I request federal student loan debt relief of up to $20,000. If requested, I will provide proof of income to the U.S. Department of Education. I understand that if I fail to do so by March 31, 2024 or if my income does not qualify for federal student loan debt relief, the relief will not be processed.
- I verify that I am the individual named above.
- I affirm that ONE of the following is true for 2020 (Jan. 1–Dec. 31, 2020) or 2021 (Jan. 1–Dec. 31, 2021):
- I made less than the required income to file federal taxes.
- I filed as a single tax-filer AND made less than $125,000.
- I was married, filed my taxes separately, AND made less than $125,000.
- I was married, filed my taxes jointly, AND made less than $250,000.
- I filed as a head of household AND made less than $250,000.
- I filed as a qualifying widow(er) AND made less than $250,000.
If you filed federal taxes, your income requirements are based on your adjusted gross income (AGI), which tends to be lower than your total income. Your AGI can be found on line 11 of the IRS Form 1040.