Hernandez Encourages Eligible Residents to Apply for Student Debt Relief Programs

AURORA, Ill. – With the application period now open, state Rep. Barbara Hernandez, D-Aurora, is highlighting different opportunities and resources for student loan debt forgiveness.

“The time has finally come for those burdened with student loan debt to get some much-needed relief from the federal government,” Hernandez said. “I want to make sure that borrowers are aware of the opportunities that are available to help them get back on track.” 

President Biden announced a one-time debt forgiveness program in August for borrowers who make under $125,000 a year and $250,000 for households. If you meet the income requirements, you are eligible for $10,000 of debt forgiveness, and if you received any Pell Grants, $20,000 of forgiveness. Applications for the Student Loan Debt Relief Plan can be found on studentaid.gov and must be submitted before Dec. 31, 2023.

In addition, the Public Service Loan Forgiveness (PSLF) program has been expanded to include previous payments that would not have qualified in the program before. People who work in a public service job and have made 120 qualifying payments may apply for this expansion until Oct. 31, 2022. Additional resources on PSLF and new expanded eligibility requirements are available at studentaid.gov/manage-loans/forgiveness-cancellation/public-service or isac.org/pslf. 

“These programs were introduced so that Americans struggling with the weight of debt payments can live more freely and comfortably,” Hernandez said. “I encourage all who qualify for any of these programs to apply as soon as they can.”