What to know about the new SAVE student loan repayment plan before pandemic pause ends
by Lexi Lonas - 08/05/23 8:00 AM ET
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 (IDR) plan, after the Department of Education unveiled it this week.
The program, which the White House calls the “most generous” such plan ever offered to borrowers, will become the main IDR interface for student debt in the coming months.
Borrowers will be navigating the changes SAVE makes to their monthly payments, which are set to restart in October after the three-year COVID-19 pause.
The SAVE plan, which doesn’t list a maximum applicable income, comes after the Supreme Court earlier this summer struck down President Biden’s attempt to forgive up to $20,000 per student loan borrower.
Here is what you need to know about SAVE before payments return:
more
https://thehill.com/homenews/education/4137777-what-to-know-about-the-new-save-student-loan-repayment-plan/
