Student Loan Forgiveness 2024 Save Plan. Borrowers can receive relief after at least 10 years of payments if they originally borrowed $12,000 or less. Starting in the summer 2024, borrowers on the save plan will have their payments on undergraduate loans cut in half (reduced from 10% to 5% of income above 225% of the poverty line).

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 loans for borrowers. What if i’m making payments through the save plan but also enrolled in the public service loan forgiveness program?