Joe Biden's student loan debt relief application is now open. Here's where to apply

President Joe Biden officially unveiled the application for his administration's student loan cancellation program — a plan that the White House says makes more than 450,000 Oklahomans eligible for some debt forgiveness.

The application went live Monday, after weeks of anticipation, skepticism, opposition and a weekend of software testing. Borrowers were notified Friday that an early, "beta launch" version of the new online form was made available so that the U.S. Department of Education could address any issues in advance.

"It landed and handled more than 8 million applications without a glitch or any difficulty," Biden said during an announcement event Monday, adding that the administration's plan is "economically responsible."

Who qualifies for student loan debt forgiveness under Biden's plan?

Borrowers with incomes below the threshold of $125,000 (or $250,000 for an entire household) are eligible to receive $10,000 in debt relief. That forgiveness is extended to up to $20,000 if the borrowers received a Pell Grant during college.

The Education Department said borrowers who apply in October could have a chunk of their debt wiped out as soon as November. Officials have encouraged borrowers to file their applications by Nov. 15 if they want to see their forgiveness applied by Dec. 31 and the pandemic-related freeze on payments ends.

The White House estimated that the plan will make 20 million residents throughout the U.S. eligible to have their federal student debt erased completely. But in a move criticized by some advocates, privately-owned, federally-backed loans through the Federal Family Education Loan Program and the Perkins Loan Program will not be considered.

Related:Joe Biden updated his loan forgiveness plan and it could cut some borrowers

What information do I need for the student debt forgiveness application?

The application has been described by the Biden administration as "simple" and "straightforward." It asks for:

• Your first and last name

• Your Social Security Number

• Your date of birth

• Your phone number

• Your email

The application does not require:

• Your Federal Student Aid ID

• Your income information

But the form does ask users to check a box attesting they are eligible for the program under its announced income limits. That information will be checked against Education Department records to help identify applicants who may have incomes above the eligibility threshold, the administration said.

The application is available in English and Spanish on desktop computer and cell phones. Administration officials say they have prepared for heavy online traffic, but people who already applied through the form's "beta version" won't need to apply again.

When will student debt be forgiven?

Once the Education Department begins processing applications, borrowers should expect to see their debt forgiven in four to six weeks, officials say. Most applications submitted by mid-November will be processed before Jan. 1 — the day federal student loan payments are set to resume after being paused during the pandemic. Borrowers will be able to submit applications through the end of 2023.

In court documents, the Education Department vowed not to finalize any of the debt cancellation before Oct. 23.

How much does Biden's student loan debt forgiveness program cost?

The program is a one-time relief plan, and the application is not accompanied by any fee for submission. The expense for the overall program, however, is hotly-contested.

Creating and processing the form is estimated to cost nearly $100 million, according to the Associated Press. The form is meant to help exclude the roughly 5% of borrowers who exceed the income limits, but some frustrated advocates say it could also act as a deterrent to some lower-income Americans who would most benefit from the relief.

Biden is moving forward with the debt cancellation despite growing legal challenges. Six Republican-led states sued to block the plan, arguing it oversteps executive authority and will hurt student loan servicers, who are hired to manage federal student loans and earn revenue on the interest.

Fact check:Canceling student loan debt would cost the federal government billions

Biden campaigned on widespread student debt cancellation as a presidential candidate, but the policy went through more than a year of internal deliberation amid questions about its legality. His plan sparked intense debate ahead of the midterm elections, with Republicans and even some Democrats saying it’s an unfair handout for college graduates.

"My commitment if elected president was to make government work and deliver for the people," Biden said in a statement on Twitter Monday. "Bringing student loan debt relief to folks that need it most as they recover from the pandemic and prepare to restart loan payments keeps that commitment."

Contributing: USA TODAY staff writers Chris Quintana and Francesca Chambers; the Associated Press

This article originally appeared on Oklahoman: How to sign up for Biden's student loan forgiveness program