MEMBER ADVISORY

October 20, 2022

Apply Now for Student Loan Debt Relief

The application to apply for one-time student loan debt relief is officially open. The Federal Student Loan Debt Relief program provides 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.

Over 40 million borrowers are eligible for this relief, and nearly 20 million borrowers could see their entire remaining balance discharged. 

Who Qualifies?

  • Individuals who made less than $125,000 in 2021 or 2020
  • Families that made less than $250,000 in 2021 or 2020

The debt relief applies only to loan balances you had before June 30, 2022. Any new loans disbursed on or after July 1, 2022, aren’t eligible for debt relief. Other rules apply to consolidation loans.

Filling out the application is simple and takes about five minutes. You don’t need to log in or provide any documents.

Over eight million student loan borrowers have already signed up. Join them today by clicking here.

You can also learn more about this one-time Federal Student Loan Debt relief here.

HACU Member Advisories are a service of the Hispanic Association of Colleges and Universities (HACU)



  

The Hispanic Association of Colleges and Universities, founded in 1986, represents more than 500 colleges and universities in the United States, Latin America, Spain, and school districts throughout the U.S. HACU is the only national association representing existing and emerging Hispanic-Serving Institutions (HSIs). The Association’s headquarters are in San Antonio, Texas, with regional offices in Washington, D.C. and Sacramento, California.

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