The Good & Not So Good Parts of the Student Loan Forgiveness Plan

ABC News

President Joe Biden finally issued a debt relief plan for college students everywhere, but it’s only in its “beta form.”

Stated by an article at Business Insider, the Department of Education made it so you can get up to $20,000 of your student debt canceled at, in a simple form, but they clarified that it’s only in its beta form, or early testing stages. It’s a way for them to test it for any bugs before officially launching it to the public. Now that the beta is live, it will only be open until the end of December of 2023.

According to an article from CNN, there’s a downside and upside to this. The upside is that millions of you college students out there can get up to $20,000 shaved off your debt, but the downside is that it gets added to everyone’s taxes, so everyone has to pay a little more, while also adding to inflation and not even fixing the problem: plain affordability for college.

Student debt is a big reason why college is a hard, obstacle filled path for lots of people. While Biden’s plan was a huge step in the right direction, it ultimately might not be enough to relieve people of the burden of all their debt that comes from getting a higher education. Some experts even believe that it could even drive up the cost of college.

For those of you who are interested in the Forgiveness plan you can apply by going here to Be mindful that not everyone is looking out for you. The scammers are out there. According to, the Department of Education has issued a warning to borrowers on what not to do if you plan on taking this path:

​​Do not:

  • If anyone contacts you promising debt relief or loan cancelation for a fee, do not give them money. The department said the application is free and you do not need to pay anyone to take advantage of the plan.
  • Officials say don’t give your personal information to someone you don’t know. The department recommends calling your loan servicer if you are unsure.
  • You should also never give your FSA ID or account information or password to anyone. “The Department of Education and your federal student loan servicer will never call or email you asking for this information,” the email said.


What the the Department of Education does advise borrowers to do is to create an FSA ID at According to officials, this is not needed for the debt relief application, but it is a  way to access information about your loan. It also sets up a route for the FSA to contact you directly — and help you protect yourself against scammers.

Will you be applying for the Forgiveness plan?


By Inti Navia, Senior, ChiArts

Instagram @intinavia


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Written by Inti Navia

I love nerding out over Star Wars, Gravity Falls, and Lord of the Rings. I'm an introvert with a never ending appreciation for all things Sci-Fi and fantasy media.

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