New Student Loan Forgiveness January 2024. The biden administration is sending emails to tens of millions of borrowers this week about its new plans to cancel student debt. Biden’s new student loan forgiveness program will be much different from his first plan.

This week, the education department announced the next wave of student loan forgiveness approvals under the adjustment. $69.2 billion for 946,000 borrowers through fixes to public service loan forgiveness (pslf).