Student Loan Forgiveness 2024 Update Today. Your loan forgiveness timeline and monthly payment amount depend on which idr plan you’re eligible to choose from. In a new wave of student loan forgiveness, the biden administration is canceling $5 billion in debt for 74,000 borrowers, many of whom worked in public sector jobs for more than a.

The biden administration is sending emails out to tens of millions of borrowers about its new plans to cancel student debt. Here’s what borrowers need to know during these last months of.