Federal student loan debt relief application website now live
The Biden administration’s plan to hand out up to $20,000 in individual student debt relief will rely on a brief self-certification form on the federal student aid website that went live on Friday.
The application requires applicants to list their name, social security number, date of birth, phone number, and email. Borrowers are then asked to certify the information and submit the form.
"I certify under penalty of perjury under the laws of the United States of America that all of the information provided on this form is true and correct," the application will state. Falsified information in the application may lead to hefty fines and jail time, the White House has confirmed.
The student debt relief plan, which was announced by the White House in August and is estimated to cost over $500 billion, qualifies those with a gross income of $125,000 as individuals or $250,000 for couples who file joint taxes.
Federal Pell Grant recipients are eligible to receive up to $20,000, while non-Pell Grant recipients are eligible for up to $10,000. These qualifications are listed as a disclosure at the top of the application webpage.
The announcement of the massive taxpayer-funded loan handout was met with sharp criticism and several lawsuits have been filed in response.