The U.S. government opened a website to allow Americans with federal student loans to apply for up to $20,000 in debt forgiveness. This is the only site where borrowers can sign up for student loan forgiveness.

Who Qualifies?
Borrowers earning less than $125,000 per year or households earning less than $250,000, are eligible for $10,000 in loan forgiveness. Borrowers who fall under the income caps and received Pell Grants are eligible for $20,000 in forgiveness.

What Type of Loans Qualify?
Federal student loans will qualify, while those from private institutions do not. If your loans qualified for the federal student loan payment pause, they’re eligible for this forgiveness opportunity.

How to Apply?
Fill out the online form on It will ask for your name, Social Security number, date of birth, phone number, and email. Borrowers won’t need to upload any documents or log in with a Federal Student Aid (FSA) ID.

When Will Loan Forgiveness Be Processed?
After you apply, you’ll receive an email confirmation from the Education Department. Once your request is approved, you’ll receive an email saying that. You can expect your refund to arrive within two to 12 weeks.

What If You Already Paid Off Your Loans?
If you paid off your student loans during the payment freeze, you are likely still eligible for a refund and student loan forgiveness. You can request a refund of any payments made since March 13, 2020. Be prepared to give the customer service representative your account number and the list of payments you want refunded.

Note that after your payments are refunded, most borrowers will still have to submit a separate application to receive loan forgiveness.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.