Student Loan Forgiveness 2024 Who Qualifies. The education department has approved a total of $132 billion in student loan forgiveness for 3.6 million borrowers so far, according to data released by the administration last month. The supreme court declined on wednesday to lift a sweeping block on president joe biden’s student loan repayment plan that aims to slash monthly payments and quicken the path to loan forgiveness.
The administration has provided automatic loan discharges for students who attended schools that closed while they were enrolled or shortly after they left. The interest rate for parent plus loans disbursed on or after july 1, 2024, and before july 1, 2025, is fixed at 9.08% for the life of the loan.
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