Reported 12 months ago
A U.S. federal appeals court has ruled in favor of a White House debt relief plan proposed by President Biden, allowing a part of the 'Saving on a Valuable Education' (SAVE) plan to proceed. This plan includes capping monthly student loan payments at 5% of discretionary income and reducing payments to zero for those earning under $32,800. Despite ongoing legal challenges, the plan has provided $4.8 billion in debt relief to 360,000 Americans by April, with $167 billion forgiven since Biden took office for 4.75 million borrowers.
Source: YAHOO