Biden launches student loan forgiveness application

Olivier Douliery/AFP/Getty Images

President Joe Biden, seen here on August 24, announced on October 17 the formal launch of the federal application for Americans seeking student loan forgiveness.

Maegan Vazquez, CNN

(CNN) — President Joe Biden on Monday announced the formal launch of the federal application for Americans seeking student loan forgiveness.

“This is a game changer for millions of Americans … and it took an incredible amount of effort to get this website done in such a short time,” Biden said in a speech at the White House.

Individuals seeking to apply for student debt relief can now fill out the form at Studentaid.gov. A beta version of the website was launched on Friday and Biden said 8 million Americans used the website over the weekend to fill out their applications.

Biden in August announced his decision to cancel up to $10,000 in student loan debt for individuals making less than $125,000 a year or as much as $20,000 for eligible borrowers who were also Pell Grant recipients.

This is a breaking story and will be updated.