In a surprise move, the Biden administration announced it is fast-tracking a change that will erase the debts of many federal student loan borrowers after just 10 years.
The SAVE plan is becoming a key vehicle for President Biden's student loan debt relief efforts. In a Friday press release, U.S. Education Secretary Miguel Cardona said,"The Biden-Harris Administration designed the SAVE Plan to put community college students and other low-balance borrowers on a faster track to debt forgiveness than ever before."The SAVE plan is becoming a key vehicle for President Biden's student loan debt relief efforts. In a Friday press release, U.S.
"I am proud that my Administration is implementing one of the most impactful provisions of the SAVE plan nearly six months ahead of schedule," President Biden said in a Friday statement. On a call Thursday with reporters, Education Under Secretary James Kvaal added that this move will help a particularly vulnerable group of federal student loan borrowers.
The administration also announced that, as of early January, 6.9 million borrowers have enrolled in SAVE with more than half, 3.9 million, making incomes low enough to qualify for a $0 monthly payment.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indiana Dept of Education tells schools to track and report teacher injuriesWRTV Investigates Kara Kenney fights for what's right and holds those in power accountable.
Read more »
Student loan forgiveness: Dept. of Education's SAVE Plan could lower payments, forgive loansStudent loan burrowers could be missing out on a break through the Department of Education's Saving on a Valuable Education, or SAVE, plan.
Read more »
Student loan forgiveness: Dept. of Education's SAVE Plan could lower payments, forgive loansStudent loan burrowers could be missing out on a break through the Department of Education's Saving on a Valuable Education, or SAVE, plan.
Read more »
Student loan forgiveness: Dept. of Education's SAVE Plan could lower payments, forgive loansStudent loan burrowers could be missing out on a break through the Department of Education's Saving on a Valuable Education, or SAVE, plan.
Read more »
Student loan forgiveness: Dept. of Education's SAVE Plan could lower payments, forgive loansStudent loan burrowers could be missing out on a break through the Department of Education's Saving on a Valuable Education, or SAVE, plan.
Read more »
Education Dept investigating Wisconsin university fellowship called discrimination 'on its face'The U.S. Office for Civil Rights recently opened an investigation into a University of Wisconsin-Madison fellowship program based on a complaint it's racist against White people.
Read more »