The Education Department has struck a deal to scrap the SAVE student loan repayment plan. This plan, known for its flexibility and low monthly payments, is now on its way out. The decision comes after a legal battle with Republican state attorneys general, who argued that SAVE was too lenient. The
The SAVE plan, which was designed to ease the financial burden on millions of federal student loan borrowers, has been discontinued. This means that those who were benefiting from this income-driven repayment plan will soon face higher monthly payments. The pause on payments is expected to last unti
The student loan landscape has become a maze of uncertainty. Borrowers are facing a mix of resumed collections, legal hurdles, and departmental changes. The U. S. Education Department has restarted involuntary collections on defaulted loans, affecting about 5. 3 million people. This means some borro
After a long pause, the Education Department is set to restart the collection process for overdue student loans. May 5th is the date when the hammer will drop. Borrowers who have fallen behind might soon find themselves dealing with debt collectors or being signed up for income-based repayment plans
The Education Department has reopened the online gateway for income-driven repayment plans for student loans. This move comes after a court decision in February that temporarily halted the Biden administration's Saving on a Valuable Education Plan and parts of other income-driven repayment plans. Th
The recent changes to student loan policies have left many borrowers in a tough spot. Nearly 43 million Americans with federal student loan debt are now facing a significant increase in their monthly payments. This change comes as a result of the Trump administration's overhaul of the education sys
The Education Department has reopened two repayment plans while facing legal battles over their new Saving on a Valuable Education plan, or SAVE. Republican attorneys general from Kansas and Missouri argue that President Joe Biden is trying to skirt around the Supreme Court's block on his debt cance
