Joe Biden Student Loan Forgiveness 2024. 24 that president joe biden will take action this year to cancel thousands of dollars in federal student loan debt for millions of americans, fulfilling a. President joe biden’s decision to permanently cancel up to $20,000 in loans for borrowers who qualify would have fulfilled a pledge that he made during his 2020 run for president.

The relief is a result of the u.s. 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 and grant programs.