The White House is fast-tracking student debt relief for millions of American borrowers. How to see if you qualify

Core Points - The Trump administration has reached an agreement with the American Federation of Teachers (AFT) to provide student loan relief for millions of borrowers [1] - The agreement allows the Department of Education to resume processing forgiveness for borrowers in Income-Contingent Repayment (IDR), Pay As You Earn (PAYE), and Public Service Loan Forgiveness (PSLF) programs, particularly benefiting those who have been repaying for over 20 years [2] - The programs will remain active until 2028, after which they are expected to be phased out under the One Big Beautiful Bill Act [2] - A tax break is included in the deal, where borrowers qualifying for forgiveness this year will not owe taxes on canceled debt until 2026, after which forgiven balances will be taxable [3] - The agreement is seen as a significant victory for borrowers, as stated by legal experts [3] Borrower Impact - Approximately 2.5 million borrowers currently enrolled in ICR or PAYE may finally see debt forgiveness materialize due to this new agreement [4] - The AFT previously sued the Trump administration for blocking access to repayment and forgiveness programs, which left nearly 2 million borrowers in limbo [5] - The Department of Education had previously approved over $180 billion in student debt cancellation for more than 4 million borrowers under the Biden administration [6]