Skip to Content

Have you applied for Biden’s SAVE student loan repayment plan?


By Katie Lobosco, CNN

Washington (CNN) — The Biden administration has launched a new federal student loan repayment plan that could lower millions of borrowers’ monthly bills and reduce the amount they pay back over the lifetime of their loans.

If borrowers apply this summer for the repayment plan known as SAVE (Saving on a Valuable Education), the changes to their bills are expected to take effect before payments resume in October after the yearslong pandemic pause ends.

Once the repayment plan is fully phased in next year, some people will see their monthly bills cut in half and remaining debt canceled after making at least 10 years of payments.

If you’re applying for the SAVE plan, we want to hear from you and may follow up for a CNN story.

™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.

Article Topic Follows: CNN - US Politics

Jump to comments ↓

CNN Newsource


KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content