Student Loan Forgiveness 2024 Requirements Gathering. Borrowers must have taken out no more than $12,000 in student loans to qualify. This plan could provide mass relief to upward of 25 million borrowers or more who first entered repayment 20 or 25 years ago, experienced runaway interest, attended.
The administration’s new proposals would waive student debt for borrowers with only undergraduate debt would qualify for forgiveness if they first entered. Biden’s plan calls for up to $20,000 in debt cancellation for borrowers who are recipients of pell grants and $10,000 of loan forgiveness for other borrowers who.