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Biden pushes new student loan repayment plan as bills loom for tens of millions

President Joe Biden on Tuesday launched a promotional blitz for his new program that helps student loan borrowers repay their debt, just weeks before millions of Americans are set to receive a loan bill for the first time since the beginning of the pandemic.

The Biden administration is mobilizing to convince borrowers across the country to sign up for the new income-driven repayment program — dubbed the “SAVE plan” — which caps interest accrual and lowers the monthly payment amount for many borrowers.

“It’s the most affordable student loan plan ever,” Biden said in a video released by the White House on Tuesday, describing the program as a major reform to a student loan system “that hurt borrowers for much too long.”

“If you’re eligible for the SAVE Plan, sign up now so you can lower your monthly payments in advance of payments resuming this fall,” Biden said.

139 comments
  • No one actually thought that the guy who exempted student debt from bankruptcy and is owned by the same billionaires that own Republicans was gonna do what he said?

    • Not sure what you’re referring to. His student loan forgiveness was blocked by SCOTUS

      • Blocked for the method he used, Roberts said specifically it would have NOT been blocked had he not tried to push it through with the HEROs act. And it would have been allowed by the Higher Education Act of 1965 which grants the President the authority to cancel debt.

139 comments