Student Loan Forgiveness 2024 Biden. Starting next month, borrowers enrolled in save who took out less than $12,000 in loans and have been in repayment for 10 years will get their remaining. Individuals making less than $120,000 a year, or couples making less than $240,000, would qualify to have full forgiveness of their interest.

That initiative would have eliminated $10,000 (and in some cases, up to. Biden’s new plan would allow for automatic student loan forgiveness wherever possible.