Biden Student Loan Forgiveness Update 2024. The biden administration announced another $4.9 billion in student loan forgiveness today, as the education department continues to implement targeted debt relief initiatives. The biden administration has resumed application processing for a key student loan forgiveness program geared toward public servants, according to an education.

President biden announced $7.4 billion in new student loan forgiveness days after touting his broader plan to cancel debt. The biden administration is again gearing up to try to forgive the student debt of tens of millions of americans, after the supreme court struck down its first effort last year.