Loan application

US Department of Education launches student loan application beta test

On Friday, the US Department of Education began beta testing its student debt forgiveness app.

Applications were being accepted on to help the department refine its process ahead of the official launch of the Biden administration’s student debt relief program.

Forms submitted during the beta testing period will be accepted and will not need to be resubmitted when the department launches the final program, the department said.

A department spokesperson told CNBC that “this testing period will allow the department to monitor the site’s performance through real-world usage, test the site before the app’s official launch, fine-tune processes, and uncover any bugs before official launch”.

The White House has continually stated that the app will roll out in October, but has yet to set an official date.

Forms submitted during the trial period do not need to be resubmitted when the ministry launches the final program.
Department of Education

Since announcing the historic student loan waiver for federal borrowers in August, President Biden has waived some of the eligibility requirements.

In September, the administration announced that it would not cancel the debt of borrowers whose student loans belong to private entities.

Several Republican-led states are hitting back at the student loan forgiveness program, saying it’s ‘unfair’ to Americans struggling with other forms of debt that aren’t being forgiven or to those who have already paid off their debt. from.