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“A federal court issued an injunction preventing the U.S. Department of Education from implementing parts of the Saving on a Valuable Education (SAVE) Plan and other IDR plans,” a notice at ...
In the news. As of July 19, 2024, all student loan payments under the SAVE Plan has been put on hold due to an ongoing appeals process as Republican-led states challenge the plan’s legality.
Current student loans news for 6/21/2024. Millions of borrowers enrolled in Saving on a Valuable Education (SAVE) are poised to benefit both immediately and in August, thanks to upcoming changes ...
The official application for the Department of Education's more affordable income-driven repayment plan for federal student loans opened Tuesday at StudentAid.gov.. The launch of the application ...
Most recently, Biden announced that over 200,000 borrowers who were enrolled in the latest IDR plan — the SAVE Plan — were eligible for $3.6 billion in relief.
The U.S. Department of Education Office of Inspector General calculated that the portion of total Direct Loan volume being repaid through IDR plans has increased 625 percent from the FY 2011 loan cohort ($7.1 billion) to the FY 2015 loan cohort ($51.5 billion). For IDR plans, the Federal government is expected to lend more money than borrowers ...
Student loan borrowers can now apply for what the Biden administration called "the most affordable repayment plan in history."The Education Department this week released an updated beta version of ...
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 ...