President Joe Biden
President Joe Biden.
  • Over 800,000 student-loan borrowers will now start seeing their debt wiped out.
  • It's part of a one-time account adjustment for borrowers on income-driven repayment plans.
  • The future of the relief is uncertain after conservative groups filed a lawsuit to block it.

Student-loan forgiveness is now beginning for thousands of borrowers.

On Monday, student-loan companies will begin discharging the debt of 804,000 borrowers who qualified for $39 billion in debt relief — part of the first batch of borrowers impacted by the Education Department's one-time account adjustment for income-driven repayment plans.