Tag Archives: SAVE

Interest accrual on the debt of nearly 7.7 million student loan borrowers enrolled in the Saving on a Valuable Education plan will resume Aug. 1, the U.S. Education Department said Wednesday. The Biden-era income-driven repayment plan better known as SAVE saw legal challenges from several GOP-led states beginning in 2024, …

Jimmy Williams The Supreme Court on Wednesday upheld a block on the Biden administration’s latest plan to reduce student loan repayments, leaving millions of borrowers in financial uncertainty while legal battles proceed in lower courts. The plan, known as the SAVE program, aims to lower payments for millions of borrowers …

Jimmy Williams A federal judge on Monday temporarily halted the Education Department from providing additional loan forgiveness under President Joe Biden’s student debt relief plan. This order affects the income-driven repayment plan known as SAVE, which was created following the Supreme Court’s rejection of Biden’s broader pandemic-era debt relief initiative. …

Jimmy Williams President Joe Biden announced this week a new initiative aimed at providing student debt relief to 160,000 borrowers, marking a significant effort by his administration to address the ongoing student debt crisis. The Education Department confirmed the cancellation of $7.7 billion in student loans for individuals who qualify …

Jimmy Williams The Biden Administration has approved the cancellation of another $1.2 billion in student debt for approximately 153,000 borrowers who have diligently repaid relatively modest student loans over the past decade or more. This step is part of the administration’s commitment to address the challenges faced by student loan …

Ariana Figueroa, Florida Phoenix President Joe Biden announced Friday that some federal student loan borrowers will have their loans cancelled under the Department of Education’s new repayment plan. Starting next month, people who took out under $12,000 in federal student loans and have been repaying those loans for 10 years …

Julia Conley, Common Dreams Just as the Biden administration announced this week that 4 million people have enrolled in its new income-driven repayment plan for student loan borrowers just two weeks after it was launched, Republican lawmakers in Congress announced plans to rip the debt relief away from Americans—saddling them …

Ariana Figueroa, NC Newsline Following the Supreme Court’s summer ruling against 40 million federal student loan borrowers who would have qualified for debt relief, the Biden administration crafted a-year-long delay in repayments. The policy, known as an on-ramp, is set to begin next month. Additionally, hours after the Supreme Court’s …

The Biden administration has introduced a new initiative to address student loan debt after the Supreme Court blocked a plan to eliminate $10,000 to $20,000 in debt for borrowers. The Department of Education will implement a revised income-driven repayment (IDR) plan called “Saving on A Valuable Education” (SAVE), which aims …