are given to students “with exceptional financial need” and do not generally need to be repaid. Still, these funds are not nearly enough to pay for a student’s entire college career; they cover only about a third of the cost of college, meaning many Pell Grant recipients take out additional student loans to meet expenses.
First, not every borrower will have to fill out an application. In fact, almost 8 million borrowers already have their income data available to the DOE and may receive debt forgiveness automatically, according to theFor those whose income data is not yet available, the easiest way to learn when the application is posted is to sign up for the DOE's federal student loan borrower updates, and click the top option. You should receive an email when the application goes live in early October.
When the application is available, borrowers can apply by November 15 to get relief by December 31 of this year. The office estimates that relief will take between four and six weeks.
Explain to children that there’s no such thing as “canceling” student debt. There is only debt transferral in which the debt is transferred to other people who did not take on the debt which is immorally unfair. The other people who didn’t take on the debt are low wage workers