Student Loan Forgiveness 2024 News And Debate. If allowed to stand, however, student loan forgiveness would incentivize students to ignore loan payments. On friday, the white house announced that an additional 277,000 borrowers will see their student loans eliminated, amounting to about $7.4 billion in forgiven debt.

That plan would have canceled up to $20,000 in federal student loans for borrowers with incomes below $125,000 or couples below $250,000. If allowed to stand, however, student loan forgiveness would incentivize students to ignore loan payments.