Student Loan Forgiveness 2024 Update Options

New biden student loan forgiveness plan: Forgive loan balances after 10 years of payments, instead of 20 years, for borrowers with original loan balances of $12,000 or less.

Borrowers can qualify for student loan forgiveness after 20 or 25 years in repayment under idr plans, or in as little as 10 years for those working in nonprofit or. Student loan borrowers enrolled in the biden administration’s new repayment plan can now get on a faster path to student loan forgiveness.