Student Loan Forgiveness 2024 Update Biden. Biden’s new plan would allow for automatic student loan forgiveness wherever possible. The biden administration announced another $4.9 billion in student loan forgiveness today, as the education department continues to implement targeted debt.

Under public service loan forgiveness, borrowers in public service for 10 years who have made 120 months of qualifying payments can get their remaining. Today, my administration is canceling student debt for 160,000 more people, bringing the total number of americans who have benefitted from our debt relief.