Debt Relief Announcement

President Joe Biden announced on Wednesday, August 24, 2022, that his administration is

  • canceling student loan debt for millions of borrowers and
  • extending the pause on payments and interest accrual for federally-held student loans until Dec. 31, 2022.

Is there a cap on how much student loan debt will be forgiven?
  • Loan cancellation is capped at $10,000 for single borrowers making less than $125,000 – OR - households earning less than $250,000.
  • Loan cancellation is capped at $20,000 for students who received a Federal Pell Grant and also meet the above-noted income criteria.

What loans are eligible for forgiveness?
  • The U.S. Department of Education has confirmed that loans disbursed by June 30, 2022, are potentially eligible.

U.S. Department of Education resources – including Q&A can be found at:

One-Time Federal Student Loan Debt Relief Application

K-State’s Office of Student Financial Assistance is actively monitoring this developing federal aid initiative and will provide further detail/resources as they become available.