These Student Loan Borrowers Are Not Making Payments
The end of the federal student loan repayment grace period has been a financial rude awakening for millions of borrowers. After the pandemic-related pause on payments since March 2020, the Department of Education’s 12-month “on-ramp” program, which...
On-Ramp Ends and Biden’s “Plan B” Student Debt Relief Plan Blocked (Again)
The federal student loan “on-ramp” period officially ended at midnight on September 30. This on-ramp gave borrowers 12 months to adjust to making their student loan payments without negative consequences for missed payments. Many Student Loan Borrowers Did...
Borrowers in the SAVE Plan Will Be Placed in Forbearance While ED Fights the Court of Appeals’ Ruling
In a statement released today by the U.S. Secretary of Education Miguel Cardona, “Borrowers enrolled in the SAVE Plan will be placed in an interest-free forbearance” while the Biden Administration defends the SAVE Plan in court. SAVE, or Saving on a...
SAVE Plan Legal Challenges Continue
Student loan borrowers are confused over the SAVE plan, the new income-driven repayment (IDR) option scheduled to be fully rolled out earlier this month. The Saving on a Valuable Education (SAVE) Plan was a keystone in the Biden administration’s promise to...