New Student Loan Forgiveness Plan 2024. Here's what it means for borrowers. The administration’s new plan would cancel debt for all borrowers with only undergraduate student debt who entered repayment 20 or more years ago and cancel.

Thanks to this administration’s efforts more than one out of every 10 federal student loan borrowers. Last summer, the supreme court struck down a broad plan that would’ve erased up to $20,000 per.