Student loan forgiveness debt ceiling refers to the limitations imposed by the U.S. federal government on the amount of student loan debt that can be forgiven through certain programs. The debt ceiling acts as a cap on the total amount of outstanding student loans that the government is willing to forgive. Once the debt ceiling is reached, no further loans can be forgiven until the ceiling is raised.
Student loan forgiveness programs are designed to provide financial relief to borrowers who are struggling to repay their student loans. These programs can offer forgiveness for a portion or all of a borrower’s outstanding debt, depending on the specific program criteria. The debt ceiling limits the total amount of forgiveness that can be provided through these programs.