INDIANAPOLIS (WISH) — The United States Department of Education (DOE) has started taking applications for student loan debt cancellation. Studentaid.gov went online Monday after a beta form of the website was pushed out last Friday.
Kristen Ahlenius, Director of Education for Your Money Line, joined News 8’s Phil Sanchez on Wednesday night’s “UnPHILtered” to explain while the site is up and running, debt forgiveness hasn’t started just yet.
“The thing to know at this time is the technically, it’s a beta version,” she said. “If you head to the student aid website and it’s closed, do not panic. The (DOE) has advised that could happen from time to time and that they’re not yet ready to begin forgiving student loans. This is essentially placing you in a queue.”
Ahlenius goes on to say student loan borrowers that are government or nonprofit employees need to make sure they take advantage of the Public Service Loan Forgiveness (PSLF) waiver by the end of the month.
“The PSLF is a program that forgives student loan debt for government and nonprofit employees and that waiver attempts to include more payment history for those borrowers,” she said. “That deadline is still Oct. 31. So, we’re all very excited about the Biden, Harris forgiveness, but, in the meantime, don’t forget that this deadline is looming.”
To watch the full interview, click on the video above.