Student Loan Forgiveness 2024 Update Biden. President biden will announce plans that, if finalized as proposed, would cancel up to $20,000 of the amount a borrower’s balance has grown due to unpaid interest on their loans after entering. Biden is forging ahead on a new path to narrower student loan relief after the supreme court rejected his earlier loan.
President joe biden speaks as he announces a new plan for federal student loan relief during a visit to madison area technical college truax campus, in. 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.