Processing will continue on a weekly basis through 2021. November 1, 2020: Financial aid begins processing 2021-2022 FAFSA’s submitted to date The Biden administration indicated that it is looking into alternative pathways for relief for the excluded borrowers.October 1, 2020: 2021-2022 FAFSA Application Opens Department of Education, can still qualify for relief. Other FFELP loans, including defaulted FFELP loans and FFELP loans administered by the U.S. Commercially-held FFELP loans that have not already been consolidated into a Direct loan, or were not included in an application for Direct loan consolidation prior to September 29, 2022, would not be covered. In response to the new litigation challenging Biden’s student loan forgiveness plan, the Education Department abruptly changed eligibility rules last week to exclude some commercially-held FFEL program loans (older loans issued through the Family Federal Education Loan program) from relief. Biden Administration Changes Eligibility Loans for FFELP Borrowers Seeking Student Loan Forgiveness A preliminary hearing on that new lawsuit is set for this week - and there is a possibility that court action could complicate the anticipated student loan forgiveness timeline.

“We’ll contact you if we need any additional information from you.”Īccording to a court filing in a legal challenge brought by Republican states attempting to block the student loan forgiveness plan, the Biden administration does not anticipate any student loan forgiveness approvals prior to October 17, 2022.

“Once you submit your application, we’ll review it, determine your eligibility for debt relief, and work with your loan servicer(s) to process your relief,” said the Education Department in the mass email to borrowers.

Applications will be reviewed on a rolling basis during the application period, which will run from October 2022 until December 31, 2023. The Education Department anticipates a four-to-six week turnaround time for student loan forgiveness applications. When Will Borrowers Receive Student Loan Forgiveness “We will be sending more details over the coming days as we near the application period,” said Education Secretary Miguel Cardona in a recorded video message to borrowers.

Office timeline plus student