Student Loan Forgiveness 2024 Save Plan 2024. Biden announces student loan forgiveness for 150,000 borrowers. Next month, federal student loan borrowers may have their debt canceled if they are enrolled in the save plan, initially borrowed $12,000 or less and made 10.

The proposed plan includes relief for borrowers who have been paying their loans for at least 20 or 25 years, automatic forgiveness for borrowers who are eligible for. Student loan borrowers enrolled in the biden administration’s new repayment plan can now get on a faster path to student loan forgiveness.