$10K/$20K Cancellation Frequently Asked Questions (FAQs)
ALERT: PRESIDENT BIDEN'S STUDENT DEBT CANCELLATION IS ON HOLD. In mid-November, Republican-appointed judges issued orders blocking President Biden’s student debt cancellation. As a result, the cancellation application is now unavailable—but the Biden Administration has already appealed and is standing strong. If you have already applied, the Department of Education will hold your application.
Background: On October 17, 2022, the Biden administration launched the student debt cancellation application. Borrowers with federal student loans and individual incomes less than $125,000 ($250,000 for married couples or heads of household) would receive $10,000 in federal student loan cancellation with an additional $10,000 ($20,000 total) in cancellation if they received a Pell Grant at any time to help fund their education.
Right now the cancellation program is on hold.
The following FAQS do not reflect the program hold. Last updated on 11/17/2022.