Can the HEROES Act Forgive Private Student Loans? No

• Private student loans don’t qualify for HEROES Act forgiveness. The law only applies to federal loans.

• There is no $10,000 forgiveness for private loans. Biden’s plan only applied to federal loans, and the Supreme Court struck it down in 2023.

• If you have private loans, you’re on your own. Your best options are refinancing, hardship forbearance, or negotiating with your lender.

Can the HEROES Act forgive private student loans? No. No law has ever wiped out private student loan debt, and the HEROES Act is no exception.

If you have private loans, you’ve probably seen headlines about Biden’s 2022 student loan forgiveness plan—the one that promised up to $20,000 in relief. Maybe you have even heard rumors that private loans could be included.

But let’s be clear: The HEROES Act only applies to federal loans. Private student loan borrowers never qualified for cancellation or the COVID-era payment pause.

So what are your actual options if you have private loans? Let’s break it down.

The Higher Education Relief Opportunities for Students (HEROES) Act of 2003 gives the U.S. Secretary of Education (ED) the power to waive or modify federal student loan rules during national emergencies.

In simple terms, this law lets the government adjust repayment terms when events like wars or pandemics threaten borrowers’ financial stability.

During the COVID-19 pandemic, the HEROES Act was used to:

• Pause federal student loan payments and interest for more than three years.

• Attempt a one-time government waiver for student loans of up to $20,000 in federal student debt for eligible borrowers in 2022 (we’ll cover eligibility later).

That 2022 cancellation plan was the most aggressive use of the HEROES Act to date. Until then, the law had never been used to wipe out existing loan balances. It was primarily a tool for temporary relief.

No. Private student loans do not qualify for HEROES Act forgiveness—period.

The HEROES Act only applies to federal student loans, meaning loans owned or backed by the ED. Private student loans from banks, credit unions, or private lenders are completely separate from the federal student aid system.

When President Biden announced the 2022 debt relief plan, it explicitly applied only to federal loans. Private student loans were never eligible for the payment pause, the $10,000 to $20,000 cancellation plan, or any other HEROES Act relief.

If you have private loans, you’re still responsible for repaying them as agreed. Nothing in the HEROES Act changes that.

Federal vs. Private Loans: How Do They Differ?

• Federal student loans (Direct Loans, FFEL loans, Perkins loans) are issued or guaranteed by the government. These were the loans covered by the HEROES Act relief, including the payment pause and the attempted cancellation.

• Private student loans are funded by private lenders and have no federal protections. The government cannot modify or cancel these loans unless Congress passes a specific law. No current law provides forgiveness for private student loan debt, and the HEROES Act doesn’t apply to them.

Related: How Do I Know if My Student Loans are Federal?

No. There is no active program that forgives private student loans. If you have private student loans, be skeptical of any claims that the government will cancel that debt unless new legislation is passed.

Biden’s $10K/$20K Forgiveness Plan

The one-time federal loan cancellation plan announced in 2022 was set to forgive:

• Up to $10,000 in federal student loan debt per borrower.

• Up to $20,000 for Pell Grant recipients.

This plan never included private loans—only federally held debt. And even for federal borrowers, the program never took effect because the Supreme Court struck it down in 2023.

The 2020 HEROES Act

While no private loan forgiveness was ever enacted, there was a proposal during the pandemic that could have provided relief for those who have suffered direct economic hardship.

In May 2020, the House of Representatives passed a COVID-19 relief bill, also called the “HEROES Act,” which included:

• Government payments toward private student loan balances during the emergency.

• Up to $10,000 in forgiveness for “economically distressed” private loan borrowers.

If this bill had passed, private loan borrowers could have had payments covered through September 2021, followed by up to $10,000 in loan cancellation. But the bill never passed the Senate, so it never became law.

No one. Private student loan borrowers do not qualify for any forgiveness or relief under the HEROES Act. Every major relief program tied to this law has applied only to federal loans.

If you have private student loans, there is no federal forgiveness program for you. The HEROES Act has never covered private loans, and no current law or executive action provides cancellation. Your private loans remain your responsibility under your lender’s terms.

If you have private student loans, you won’t get forgiveness under the HEROES Act, but you still have some options to reduce your financial strain:

• Modify or Refinance Your Student Loan: A lower interest rate or better repayment terms could reduce your monthly payments and help you avoid default. Refinancing won’t erase your balance, but it can make repayment more manageable.

• Student Loan Forbearance or Payment Plans: Some private lenders offer temporary forbearance, deferment, or modified payment plans if you’re struggling financially. This could mean pausing payments, making interest-only payments, or extending your repayment term.

• Employer or State Assistance Programs: Some employers offer student loan repayment benefits, though they’re more common for federal loans. Certain state-run loan assistance programs also exist for specific professions, like healthcare or law.

• Bankruptcy or Loan Settlement (Last Resort): Discharging private student loans in bankruptcy is difficult, but recent legal changes have made it slightly easier in some cases. You might also negotiate a settlement with your lender. If you’re considering this, talk to a student loan consultant.

None of these options erase private loan debt, but they can make repayment more manageable. Be proactive. Contact your lender, understand your options, and seek expert advice if needed.

Related: How to Lower Private Student Loan Payments

If you have private student loans, the HEROES Act doesn’t help you. It never has, and it never will. There’s no $10,000 forgiveness program for private loans, no federal relief, and no legal loophole that cancels private student debt.

But that doesn’t mean you’re out of options. If your private loans are overwhelming you, there are ways to reduce the burden, such as refinancing, loan negotiation, or exploring hardship programs. In some cases, legal strategies like bankruptcy or loan settlements may also be worth considering.

If you’re looking for real solutions, we can help.

Book a call with our student loan expert, who knows the system inside and out. We help borrowers like you find the best path to debt relief for your situation.

Related reading:

• Income-Based Repayment for Private Student Loans

• Can You Transfer Private Student Loans to Federal?

• What Happens If You Can’t Pay Private Student Loans

• Help with Sallie Mae Loans

• Private Student Loan Default