What is Student Loan Forgiveness Program ?

Was Announced by President Joe Biden.

With this Scheme, student can apply for $20000 as debt forgiveness.

Borrowers who make less than $125,000 a year,  can apply for this.

Biden administration has said it could take weeks to process an application. 

Applicants will receive an email confirmation After the application is accepted.

Borrowers will also not have to pay federal income tax on the student loan debt forgiven.