When talking about Biden student loan forgiveness, Millions of borrowers will get student loan forgiveness credit for administrative forbearance duration, according to the Biden administration, as the problem of broad loan servicing continues. Forbearances permit borrowers to get rid of repayment while staying in good standing on their student loans. The education department implemented it due to widespread loan servicing issues following the return to repayment last fall. The department also announces new financial penalties imposed on loan services due to billing errors and other problems. This article will dive deep into student loan forgiveness in detail.