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Student-Loan Forgiveness update

Student-Loan Forgiveness update

October 17, 2022

The Department of Education officially launched the online portal for the student loan forgiveness program.  Here's the link for the application:

https://studentaid.gov/debt-relief/application

The U.S. Government has stated that borrowers who meet the income limits of less than 125k (single taxpayer) or less than 250k (couple filing jointly) will be eligible for 10K in Federal Student Loan Forgiveness. If you received a Pell Grant, you may be eligible for 20k. The deadline for filing is currently: Dec 2023.

On the application website, there does not look like any documentation needs to be attached at this time. To learn more:

https://studentaid.gov/manage-loans/forgiveness-cancellation/debt-relief-info


If you need assistance or have any financial questions, feel free to reach out to me! - Damon 


Beware of scams

You might be contacted by a company saying they will help you get loan discharge, forgiveness, cancellation, or debt relief for a fee. You never have to pay for help with your federal student aid. Make sure you work only with the U.S. Department of Education and our loan servicers, and never reveal your personal information or account password to anyone. Our emails to borrowers come from noreply@studentaid.gov, noreply@debtrelief.studentaid.gov, or ed.gov@public.govdelivery.com. You can report scam attempts to the Federal Trade Commission by calling 1-877-382-4357 or by visiting reportfraud.ftc.gov


About the Author:

Damon Paull is a Marine Corps veteran who has traveled to over 20 countries. As a financial advisor in Houston, Texas, he is passionate about helping business owners and individuals pursue their financial goals. You can connect with Damon and his team at: 703.362.5747 or DPaull@totuswm.com.