Chery Deirdre

New Student Loan Forgiveness 2024 Eligibility. About 4.75 million borrowers have received $167 billion worth of federal student loan forgiveness. If you repay your loans under an idr plan, any remaining balance on your student loans will be forgiven after you make a certain number of payments over 20 or 25 years—or as few as 10 years under our newest idr plan, the saving on a valuable education (save) plan.

After the supreme court struck down the forgiveness plan, the biden administration set up a student loan relief. Here are key details on who qualifies, and when you may be able to apply.