SO, YOU THINK YOU MIGHT QUALIFY FOR THE PRESIDENT’S STUDENT LOAN DEBT PLAN…WHAT’S NEXT? 

ABOUT EIGHT MILLION TAXPAYERS ACROSS THE COUNTRY WILL AUTOMATICALLY RECEIVE RELIEF SINCE THE FEDERAL GOVERNMENT ALREADY HAS THEIR INCOME INFORMATION. ALL OTHER BORROWERS WILL NEED TO FILL OUT AN APPLICATION SAYS ILLINOIS STUDENT ASSISTANCE COMMISSION SPOKESPERSON LYNNE BAKER.

YOU CAN SIGN UP TO BE NOTIFIED WHEN THE APPLICATION IS AVAILABLE AT: ED DOT GOV.

BAKER SAYS IT’S IMPORTANT TO NOTE THAT THE ONE-TIME RELIEF DEAL ONLY APPLIES TO FEDERAL LOANS THAT WERE DISBURSED BEFORE JULY FIRST OF THIS YEAR. THIS DOES NOT APPLY TO PRIVATE LOANS TAKEN OUT FOR COLLEGE EXPENSES.