President Joe Biden officially launched the application site that he touts will forgive up to $20,000 for US student loan borrowers, announcing that eight million people submitted their applications during the site's soft launch at the weekend.
Mr Biden touted that the website to submit an application takes less than five minutes to complete. Mr Biden said millions of people have already filled out the online form “without a glitch or any difficulty”.
“It means more than 8 million Americans are starting this week on their way to receiving a life-changing relief that they’re looking for,” Mr Biden said.
Mr Biden's plan calls for $10,000 in student loan cancellation for individuals who make less than $125,000 a year or households that make less than $250,000 per year.
Those who received Pell Grants — a federal grant handed to low-income university pupils — are eligible to see up to $20,000 in student loan forgiveness.
The initiative from the White House fulfils a campaign pledge from the president, even as Republicans and some Democrats contested it provided an unfair handout to university graduates.
Others have argued that the White House should cancel student loans entirely, but Mr Biden on Monday defended his plan.
“My commitment was: If elected President, I was going to make government work to deliver for the people. This — this roll-out keeps that commitment,” Mr Biden said.
“This is a game-changer for millions of Americans.”
The form requires applicants to submit their name, Social Security number, email and phone number. It does not, however, ask for their income. Instead it asks applicants to check a box confirming they meet the requirements to qualify for student loan forgiveness.
Borrowers can expect to see their student debt forgiven in four to six weeks once the Education Department processes the applications.
Student-loan borrowers can apply for the programme through the end of 2023.
The Associated Press contributed to this report
