what is student loan forgiveness 
student loan forgiveness releases borrowers from their obligation to repay part or all of their federal student loan debt these borrowers have taken out loans to pay for their post secondary education forgiveness is available for some types of loans but eligibility is limited to borrowers in certain public service educational or military professions in addition to income driven repayment idr plans president biden announced a new idr plan on june 30 2023 in response to the same day supreme court decision that halted his previous student loan forgiveness plan 1 called the saving on a valuable education plan save it offers enhanced financial benefits to student loan borrowers three important features of the plan launched during the summer of 2023 while the full regulations were scheduled to take effect on july 1 2024 