If you qualify for Biden's student loan forgiveness, you can apply online now

If you qualify for Biden's student loan forgiveness, you can apply online now

The Biden administration launched a beta version of its student loan forgiveness application.

Borrowers can apply now but here's what borrowers need to know first.

The Education Department has launched an online application for Biden’s new student loan forgiveness plan.

The plan provides up to $20,000 in loan forgiveness for federal student loans administered by the government.

The application is available here via the StudentAid.gov website.

Borrowers do not need to log in to the StudentAid.gov website using their FSA ID.

Fill out the online form, digitalsign it and submit it and the process takes less than a minute to complete.

Data shared by the White House states that 87% of the program's benefits will go to people who earn less than $75,000 a year.