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Biden’s student loan forgiveness plan

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There is now an online application for President Joe Biden’s one-time student loan forgiveness plan. Here is where borrowers may submit their applications.

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The release of the application, which came after a beta test that began on Friday and attracted 8 million participants, indicates that the federal government is confident it can carry out its enormous campaign promise to cancel all debt

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Depending on their income and if they got a Pell Grant while attending college, borrowers may be able to receive $10,000 or $20,000 in debt reduction.

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The federal government has advised borrowers to submit their papers by November 15 if they want to see a decrease in their amounts before the conclusion of a payment freeze that started during the epidemic and expires in January.

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They must self-certify that they make less than $125,000 annually, or $250,000 for couples, as part of that, and those who give false information risk penalties or jail time.

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