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On Air Now

News Hour with Liz Rattoballi: Weekend Edition
Sat & Sun 5-6AM

Everything You Need To Know About Student Loan Forgiveness

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NEW YORK (AP) — President Joe Biden’s student loan forgiveness plan, announced in August, will cancel up to $20,000 in debt per borrower.

The application process is now open, and the administration says the forms should take five minutes to complete. Borrowers who apply before mid-November should see forgiveness before Jan. 1, when payments on loans are scheduled to restart after a pause during the pandemic.

Some Republican-led states have filed lawsuits to try to stop the cancellation, but the Biden administration says they’re confident the challenges won’t succeed.

—Copyright 2022 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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