Student Loan Forgiveness 2024 News And Impact. Prosise started by discussing forgiveness of federal student loans taken out by teachers. The largest is a $145 billion increase that’s partly due to changes the biden administration made to student loan repayment plans and a new, proposed forgiveness.

President joe biden says his administration is automatically canceling federal student loans for nearly 153,000 borrowers. The government will cancel up to $10,000 in student loan debt for borrowers making less than $125,000 a year, or $250,000 for married couples.