New Student Loan Laws 2024. 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. Biden’s new plan would expand federal student loan relief to five new categories of borrowers through the higher education act, which administration officials believe puts.

The biden administration released new data this week on a program designed to make it easier for federal student loan borrowers to discharge their debt in. Millions could receive student loan forgiveness automatically under biden’s new plan, but some will need to submit an application.