Biden pushes new student loan repayment plan as bills loom for tens of millions
Biden pushes new student loan repayment plan as bills loom for tens of millions
The effort to boost enrollment in the income-driven repayment program comes as student loan payments resume for the first time since March 2020.
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.
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Honestly whatever on the whole repayment thing cause I'm poor and fucked no matter what so... Meh.
But seriously can we fucking stop pretending the poverty line is real or even close to where they say it is? When every single benefits package and plan talks about a 200% increase from base poverty line or $20,000 over the base poverty limit for approval it just means poverty is much more common and a lot more expensive than we want to admit but it would freak out hundreds of thousands to realize just how poor they actually are.
Rip off the bandaid of bullshit poverty line adjustments and just be honest that the average American is low class now.
Yeah, the "temporarily embarrassed millionaires" probably don't want to know how embarrassed they actually are, or how permanent "temporarily" is.