You can now see the application for Biden’s student-loan forgiveness — and the 5 pieces of information you will need to apply

By Ayelet Sheffey

Student-loan borrowers just got a first look at what the application for debt cancellation will look like.

On Tuesday, the Education Department released details on all of the information federal borrowers will need to access President Joe Biden’s up to $20,000 in debt relief for those making under $125,000 a year. While administration officials told reporters on a press call that an exact date for the formal release of the application has not yet been determined, providing this information in advance is “a really important step” in the process and helps show borrowers that it will be “simple and straightforward.”

“If the Department of Education needs more information from a borrower to confirm their income or their eligibility, they’ll be asked to fill out a simple online form and submit the required information — a 1040, a tax transcript, or proof of non-filing,” an official said. “We’re confident that these measures, combined with clear communication about eligibility requirements to the public, will result in a simple and straightforward process that allows eligible borrowers to obtain relief and ensure ineligible borrowers do not.”