New Student Loan Forgiveness Plan 2024. The administration’s new proposals would waive student debt for borrowers with only undergraduate debt would qualify for forgiveness if they first entered. The new plan would forgive some or all loan debt for nearly 30 million borrowers under the higher education act, the federal law that regulates student loan.

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. These are the four groups that may.