BATON ROUGE, La. (BRPROUD) — Applications for federal government student loan forgiveness is officially open, and hundreds of thousands of Louisiana residents can apply.
According to Forbes, Under Biden’s plan, 40 million student loan borrowers may be able to receive $10,000 or more in student loan forgiveness on federal loans by the U.S. Department of Education.
The relief is simply described as a program that provides eligible borrowers with a full or partial discharge of loans up to $20,000 to Federal Pell Grant recipients and up to $10,000 to non-Pell Grant recipients.
Any individual who made less than $125,000 in 2021 or 2020, or families that made less than $250,000 in 2021 or 2020 are able to qualify.
However, many states across the country do not agree with Federal Loan Forgiveness relief.
On Wednesday, it was announced that Arkansas, Iowa, Kansas, Missouri, Nebraska, and South Carolina (Republican States) are trying to block the president’s plan. The republican led states are arguing that he doesn’t have the power to issue nationwide debt relief without Congress’ approval.
Wisconsin conservative law firm asked the Supreme Court Wednesday to block President Biden’s relief. The Brown County Taxpayers Association, filed the emergency appeal, arguing Biden’s plan to cancel up to $20,000 in student loans. They are claiming that loan debt is illegal in the executive branch.
However, Louisiana’s governor, John Bel Edwards, is not arguing but wants to offer relief.
“I strongly encourage every Louisianan with student debt to apply,” stated Governor John Bel Edwards in a press release.
“It’s a Federal Program, not a state one,” said the Governor’s Office Communication Director, Lauren Leist.
Leist says the Governor realizes that it’s a hard time for students who may be experiencing student debt.
“He knows that a lot of people are hurting right now, and student loan debt can be a real big burden,” Leist adds.
The White House estimates that more than 600,000 Louisiana residents are eligible for relief, including more than 400,000 who are eligible for $20,000 in loan forgiveness.
LSU graduate, Chris Heart, says he’s ready to apply. “That’s definitely something I’m looking forward to because that can help a lot of people who are struggling, that can cover low-income households,” he said.
Janiya Adams and Leah Stanley, two out-of-state students at LSU took out loans for their education. They say the Student Loan Forgiveness Relief is hardly enough for any relief.
“It’s not enough, it not enough like the ratio, $100,000 to $20,000 dollars like yes it’s something, but in all honesty, it’s not enough,” said Adams.
Stanely says, “$20,000 is to basically breathe on campus, like one year here is like $50,000.”
“The application takes less than 5 minutes, is available on desktop and mobile devices, and you don’t need to upload any documents to apply,” Governor Edward says.
If you’re interested in applying, click here.