Student Loan Forgiveness 2024 Update Tax. Millions of newer borrowers will benefit from the program in 2024, even though they won’t get loan forgiveness just yet. It supports public employees—such as teachers, firefighters, and members of law.

For example, $13,000 can be forgiven in 11 years, $14,000 in 12 years and so on. Indiana, mississippi, north carolina and wisconsin will tax the amount of your federal student loan forgiveness.