Federal student loan forgiveness application launched today. What happens after you apply?

October 17, 2022

The federal student loan forgiveness application is now officially available for all qualified borrowers on student-aid-dot-gov.

But what happens if you applied over the weekend during the BETA test or if you apply starting now?

First – according to the President during the weekend beta test – 8 million student loan borrowers successfully submitted an application. If you applied over the weekend during the beta test, you do *not* have to apply again now that the application is fully launched.

But heres’ the deal – if you applied during the beta test and even if you apply now – if you’re qualified – you’re going to have to hang tight on your “up to” $10,000 or $20,000 of forgiveness.

Why? The government has said they are not going to start processing applications until later this month.

It’s really important to understand there are several lawsuits trying to shut down this entire program down and those have not yet been resolved. I have a whole video about one of the big lawsuits. And the president said today – the White House’s legal view is – this program is completely legal – I have a video about that too… but you never know with the legal system.