What is Student Loan Forgiveness Program ?

Credit : Google Image

Credit : Google Image

Was Announced by President Joe Biden.

Credit : Google Image

With this Scheme, student can apply for $20000 as debt forgiveness.

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Borrowers who make less than $125,000 a year,  can apply for this.

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Biden administration has said it could take weeks to process an application. 

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Applicants will receive an email confirmation After the application is accepted.

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Borrowers will also not have to pay federal income tax on the student loan debt forgiven.

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