Washington D.C. – The United States Department of Education opened for a few hours on Friday, as a test, the process to request the cancellation of up to $20,000 in student debt.
According to the Department of Education, the intermittent opening of the portal, for a few hours, allows you to know how it works before the process starts permanently. There may be other tests.
And the Department of Education has indicated that those who take advantage of these intermittent openings will not have to reapply for debt cancellation.
Under President Joe Biden’s plan, students who received Pell grant assistance can claim to have up to $20,000 of Department of Education loan debt eliminated. Those who did not have Pell grants can claim the cancellation of up to $10,000.
In order to request debt elimination, people must have had income of less than $125,000 in the years 2020 and 2021. In the case of couples, they must have had income of less than $250,000.
This week, the Secretary of Education, Puerto Rican Miguel Cardona, affirmed today that the upcoming cancellation of up to $20,000 in student debt will help millions of Latinos to mitigate inflation, including about 275,500 people in Puerto Rico.
Cardona indicated that almost one of two Latinos with student debt will be able to erase the obligations with the Department of Education through the program that will be launched before the end of the month.
“Almost half of Hispanics will be able to see their debts go to zero… That’s money in the pocket for Latinos,” Cardona said, at a White House virtual press conference on President Biden’s achievements that benefit Hispanics .