Student Loan Forgiveness 2024 Biden. The department of education (department) today will begin notifying more than 804,000 borrowers that they have a total of $39 billion in federal student loans that will be. The administration’s new proposals would waive student debt for borrowers with only undergraduate debt would qualify for forgiveness if they first entered.

Individuals making less than $120,000 a year, or couples making less than $240,000, would qualify to have full forgiveness of their interest. The supreme court refused to allow a key part of president biden’s student debt plan to move forward.