Reported 12 months ago
A federal appeals court has granted the U.S. Education Department permission to implement President Joe Biden's student loan repayment plan, which reduces payments from 10% to 5% of discretionary income for qualifying borrowers. This decision temporarily halts the previous court ruling that blocked the plan, allowing the department to move forward with lower payments while pursuing an appeal. The plan, known as SAVE, was designed to offer lower payments and forgiveness for borrowers who meet certain criteria, but challenges from Republican-led states have caused uncertainty for borrowers.
Source: YAHOO