ANNOUNCEMENT FROM PRESIDENT BIDEN
President Biden released an announcement on August 24, 2022 that affects nearly all
student loan borrowers, current and past. Please see the key points below and the
Department of Education link (https://studentaid.gov/debt-
) for more information.
- The Student Loan Cancellation applies to current and past students, but ONLY applies
to loans FIRST DISBURSED prior to June 30, 2022. Current student loans for the 2022-23
school year do not count.
- Please note, students will be required to apply to receive the student loan cancellation;
however, we are unaware when this link will be made available. Student Financial Services
will send out a notification with the link once we know the application is available.
- This is a ONE-time student loan cancellation. There are no plans to cancel student
loan debt in the future.
- There are other limitations on which loans qualify, so please read the information
in the link below.
- For students currently in repayment, President Biden extended the repayment pause
through the end of December 2022, so your payments should begin again in January 2023.
- A new Income-based repayment plan will be implemented as well beginning in 2023.
Refer to the link below for more information.
The most up-to-date information on this can be found at https://studentaid.gov/
debt-relief-announcement, which is direct from the U.S. Department of Education. Rather than call Student
Financial Services for information, please refer to the link as it will have the most
up-to-date information, so please check back there often. Also,
If you would like to be notified by the U.S. Department of Education when the application
is open, please sign up at the Department of Education subscription page: https://www.ed.gov/
Dedicated to You
The Office of Student Financial Services at the University of Central Missouri is
committed to helping you achieve your academic goals. We are your go-to source for
everything related to financing your education. We will guide you through applying for the FAFSA, help you understand the different types of aid, direct you to scholarship options and provide the resources you need to make educated financial decisions.
Prepare for Financial Success
From self-guided tools to speaker-led presentations, Student Financial Services gives you the resources you need to be financially successful.