Reported 12 months ago
The Biden administration's student loan repayment initiative, known as the SAVE (Saving on a Valuable Education) plan, has received approval from a federal appeals court to proceed. This comes after a judge previously blocked a revised version of the plan. The SAVE plan aims to lower borrowers' monthly payments, eliminate remaining interest on loans, and increase income exceptions. This development impacts approximately 8 million borrowers and is seen as a significant victory for President Biden in addressing student loan debt.
Source: YAHOO