The Department of Education has approved a new round of student loan forgiveness totaling $50 billion for 2 million borrowers who were enrolled in income-driven repayment plans for 20 or more years.

Eligibility

Borrowers who made qualifying payments for 20 years on IDR plans will have remaining balances automatically discharged. No application is needed — the Department will notify eligible borrowers directly.

Political Debate

The forgiveness has reignited debate over student loan policy, with supporters calling it long-overdue relief and critics arguing it rewards poor borrowing decisions and shifts costs to taxpayers.