Student Loan Forgiveness Application Release Set for This Month

The Education Department provided a glimpse at the student loan forgiveness form on Tuesday. The application is not live yet but is still set to be fully released at some point this month. 

Yahoo Finance reported that the Education Department provided images of the online form during a press briefing on Tuesday. The application requests borrowers to provide their name, Social Security number, birth date, phone number and email. Additionally, “Borrowers won’t need to upload any documents and they also don’t need to log in with a Federal Student Aid (FSA) ID. To prevent fraud, all borrowers must attest to their eligibility under penalty of perjury and jail time.”

An Educational Department official said that upon completing the form, borrowers should receive debt relief “in a matter of weeks.” Most claims are expected to be processed by mid-November before January payments resume. 

More than 40 million borrowers are eligible for student debt relief. For more information about who qualifies, how to apply and more please read this Yahoo Finance article.