Student Loan Forgiveness 2024 Requirements. People who have owed on loans for at. Under the higher education act and the department’s regulations, a borrower is eligible for forgiveness after making 240 or 300 monthly payments—the equivalent of 20 or 25.
Waiving accrued and capitalized interest for millions of borrowers; Borrowers can receive relief after at least 10 years of payments if they originally borrowed $12,000 or less.