Federal Loan Cancellation Program
Federal student loan borrowers with an annual income below $125,000 for individuals or $250,000 for married couples or heads of households are eligible for up to $10,000 in federal student loan debt cancellation. If the borrower received a Pell Grant while in college, they are eligible for up to $20,000 in debt cancellation.
Borrowers can check their federal loan balance as well as see if they received a Pell Grant by logging into studentaid.gov. Borrowers who want to be notified when an application is available or receive updates about this process, can sign up at the ED subscription page. If you have a Perkins loan currently in repayment through ECSI, Allegheny’s loan servicer, more information will be provided to you in the near future.
For the full announcement, please visit the Federal Student Aid website. If you have additional questions, please contact the Federal Student Aid Information Center at 1-800-433-3243 or the Allegheny College Financial Aid Office at 1-800-835-7780.