Applications won't be processed until after the official launch.
to help them refine their processes ahead of the official launch and that any applications submitted won’t be processed until after the final launch. They say there won’t be a need to refile later and that there’s no advantage to applying during the pre-launch period.
The site also says the application will only be available off and on, and to try again later if you cannot access it. The form, which is still scheduled to officially launch sometime in October, will be available until Dec. 31, 2023. Borrowers with qualifying loans can receive up to $10,000 in forgiveness or $20,000 if they received any Pell Grants if they have an annual income of $125,000 or less for individuals and $250,000 or less for couples.
According to the Biden administration, the plan makes 43 million borrowers eligible for some debt forgiveness, with 20 million who could get their debt erased entirely.
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