The Student Loan Forgiveness Act

The Student Loan Forgiveness Act is a proposed policy aimed at reducing student debt burdens. It would cap monthly payments, making repayment more manageable based on income, and forgive remaining loan balances after a set period, typically 20 years. The goal is to make student loans more affordable, prevent default, and improve financial stability for borrowers. While not yet enacted, it seeks to address the challenges of high student debt by providing relief through structured repayment plans and eventual forgiveness.