Local 12 News: What to do if you think you’re eligible for student debt relief
UC assistant vice provost for enrollment management offers some thoughts
President Biden’s student loan forgiveness program may take effect, but it needs to first pass the review of a federal district judge which is hearing a motion to block the policy. Six Republican-led states filed a lawsuit last month challenging the program’s legality.
The plan includes forgiveness of up to $20,000 in eligible loans and it targets borrowers with individual income of less than $125,000 or income of $250,000 for households. David Peterson, assistant vice provost for enrollment management at UC, spoke with Local 12 News about the President’s program.
He’s fielded calls from alumni and students waiting for the application process to open and it’s expected to launch later this month.
"For them, it's just such a huge relief, it's less money that they have to make repayments on, and it puts them in a better position, financially for their families and for what they're trying to do with their lives," Peterson told Local 12 News. “So really, again, we're just hoping that the application comes live soon, and we can get families and students completing the application.”
The White House released a preview of the student debt relief form on Twitter.
Peterson says financial aid staff are encouraging students and alumni to sign up for alerts from the U.S. Department of Education, which is handling the student loan forgiveness program and not individual universities or colleges.
"This is actually being handled by the Department of Education so not by the institutions themselves, whether it'd be here, or other schools, students and families are going to want to talk as much as they can directly to the Department of Education," Peterson told Local 12 News. "Schools and universities are more than willing to help, but it's really going to be between them and the Department of Education."
UC financial aid officials say that a student debt relief app will be available on StudentAid.gov this month and that individuals looking for assistance should also be wary of potential scams. There is no cost to apply and individuals should only use StudentAid.gov and give information on that site.
Featured image of UC campus was provided.