So, you think you might qualify for the President’s Student Loan Debt Plan…what’s next?
Many eligible borrowers will automatically receive the relief because the Federal Government already has their income data. Others will need to fill out an application via the US Department of Education’s website says Illinois Student Assistance Commission Spokesperson Lynne Baker.
“It’s not out yet. There is going to be a way to be notified so if you would like to be notified when the application is available you can go to ed.gov/subscription and you can sign up to be notified when that application is available.”
Baker says it’s important to note that the one-time relief deal only applies to federal loans that were disbursed before July 1st of this year. This does not apply to private loans taken out for college expenses.
