Pramila Jayapal: Beta application for student loan debt is officially live

Thursday, October 20, 2022

From Congresswoman Pramilia Jayapal

BIG NEWS: The beta application for student loan debt cancelation is officially live and takes less than two minutes to submit! 

Please note: this is a beta application and may close and reopen throughout the week.

Recently, President Biden announced his administration will be canceling $20,000 of federal student loan debt for Pell Grant recipients and $10,000 of federal debt for other borrowers, reaching a total of 43 million borrowers.

Rep. Pramila Jayapal
This is a massive step in the right direction, and as the Chair of the Progressive Caucus, something I have personally been fighting for.

With the President’s action, approximately 20 million people will see their loans fully canceled, and an additional 23 million will see relief with a portion of their debt canceled. 

AND it will help to address the root cause of the issue by capping interest for current and future loans at 5 percent of income, half of the current rate. 

This means that those who still have a balance on their loan after this action will be able to lower their average annual payment by more than $1,000.

Be sure to get your application in today and subscribe to get email updates so I can keep you updated as we learn more about the timeline of when you'll see this money!


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