Student Loan Forgiveness 2024 Save Plan.  — 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 loans for borrowers with any.  — the biden administration plan, known as save, offers lower monthly student loan payments and a faster path to loan cancellation for millions of borrowers.

 — the forgiveness, originally scheduled to go into effect in july, comes ahead of schedule and applies to borrowers with a federal student loan balance of $12,000 or less who have been making.  — while borrowers cannot make progress toward student loan forgiveness under pslf or idr while in the save plan forbearance, the education department clarified on friday that borrowers can.