Today, Congresswoman Lois Frankel (FL-21) highlighted a new report from the U.S. Department of Education estimating that 2.4 million borrowers across Florida are eligible for help under the Biden Administration’s student debt relief plan. Last month, President Biden announced that the federal government will provide historic, targeted assistance to millions of working families—delivering up to $20,000 in debt relief for Pell Grant recipients and up to $10,000 for non-Pell borrowers.
“A college education should open doors for graduates, not burden them with crushing amounts of debt,” said Rep. Frankel. “Over 2 million Floridians are now eligible for life-changing help thanks to President Biden’s historic, targeted student loan relief. This assistance will help borrowers have more financial security and flexibility as they plan for their futures.”
Applications for forgiveness will become available in October. To be notified when applications open, visit ed.gov/subscriptions. The expected timeline for relief after completing the application is 4-6 weeks. U.S.E.D. is advising borrowers to apply before November 15th to receive relief before the end of the payment pause but will continue to process applications after payments resume. You can read more about this on the FSA website.
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