Student Loan Forgiveness 2024 Requirements Sba. Borrowers can receive relief after at least 10 years of payments if they originally borrowed $12,000 or less. All borrowers on the save plan receive forgiveness after 20 or 25 years, depending on whether they have loans for graduate school.

“if you don’t want to receive debt relief for any reason, you need to tell your loan servicer that you don’t want to receive student loan debt relief. Borrowers can receive relief after at least 10 years of payments if they originally borrowed $12,000 or less.