Student Loan Forgiveness 2024 News And Impact. Supreme court has struck down president biden’s plan for federal student loan forgiveness, meaning millions of federal borrowers will not see their debts decreased or erased. 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 canceled an additional $1.2 billion in student debt for public servants on thursday, the latest effort to provide loan relief and deliver on one. Here’s what borrowers need to know.