Biden launches student loan forgiveness application

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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.

(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.