Student Loan Forgiveness 2024 Update Irs. The american rescue plan act of 2021 temporarily exempted student loan forgiveness under idr plans from federal taxation through 2025 under the rationale that. Public hearings to determine who, exactly, should qualify for.

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. Student loan forgiveness was a major issue during the last year, and more developments await borrowers in 2024.