Some student loan borrowers will get their debt canceled early, with their balances wiped out next month

• Student debt forgiveness for some borrowers on the SAVE plan is coming faster than expected.
• Starting in February, some borrowers with less than $12,000 in loans will see their debts canceled.
• Borrowers need to have been in repayment for 10 years, and will see their debt discharged automatically. 

Student debt forgiveness is coming faster than expected for some borrowers who have been chipping away at their loans.

A key feature of President Joe Biden's new student-loan repayment plan is shortening the forgiveness timeline for some borrowers, particularly those with lower borrowing amounts. And now, some of those borrowers will see forgiveness half a year ahead of schedule.