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While the Supreme Court struck down President Joe Biden’s student loan forgiveness program in late June, a separate and significant change to the federal student loan system is moving ahead.
In August 2022, the Biden-Harris administration launched the Saving on a Valuable Education (SAVE) plan to help borrowers better manage their student loan payments. This income-driven repayment ...
Student loan borrowers now have access to the beta website for the Saving on a Valuable Education (SAVE) plan, the Biden administration’s new income-driven repayment…
The Biden administration has continued pursuing student debt relief via alternative means, launching the SAVE Plan, an income-driven repayment plan, in August 2023.
Meanwhile, millions of borrowers are in forbearance for at least another six months after court challenges halted Biden’s signature student loan repayment plan known as Saving on a Valuable ...
Around 6.9 million borrowers are enrolled in the SAVE plan, of which 2.8 million are new enrollees to income-driven repayment plans, 3.4 million were automatically transferred from the REPAYE plan ...
While SAVE remains in limbo, borrowers who don’t enroll in another plan in the interim can't make progress toward full forgiveness. Under most repayment plans tied to wages, people’s loan debt ...
Even though the U.S. Supreme Court struck down President Biden's proposal for student loan forgiveness, more than 43 million Americans with student loan debt could still benefit from a different,...
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