Federal Student Debt Relief
The link to Federal Student Loan Debt Relief Application can be found here
The application closes on December 31, 2023. Please note that debt relief is handled by the U.S. Department of Education. Federal loan history can be found by logging in at studentaid.gov. Logging in will also show if a Pell Grant was recieved. The ETSU Office of Financial Aid and Scholarships does not have access to loan and Pell Grant history.
The three parts of the debt relief plan include:
1. Final extension of the student loan repayment pause
Federal student loans are extended for a final time though December 31, 2022. Payments will resume in January of 2023.
2. Providing targeted debt relief to low- and middle-income families
The U.S. Department of Education will provide up to $10,000 in debt cancellation to
non-Pell Grant recipients and up to $20,000 in debt cancellation to Pell Grant recipients.
Loans must be held by the Department of Education and Borrowers are eligible for this relief if their individual income is less than $125,000 or $250,000 for households.
You can check if you received the Pell Grant by logging into your account at https://studentaid.gov/
3. Make the student loan system more manageable for current and future borrowers
The rule would:
- Require borrowers to pay no more than 5% of their discretionary income monthly on undergraduate loans
- Raise the amount of income that is considered non-discretionary income and therefore is protected from repayment
Forgive loan balances after 10 years of payments
Cover the borrower's unpaid monthly interest