President Biden announced the official launch of the most affordable repayment plan ever created – the Saving on a Valuable Education (SAVE) plan and kicked off an outreach campaign to encourage eligible borrowers to sign up for the plan.
The SAVE plan is an income-driven repayment (IDR) plan that calculates payments based on a borrower’s income and family size – not their loan balance – and forgives remaining balances after a certain number of years.
Don’t take my word for it. See informational resources below.
Joe Madison The Black Eagle: Interview with Education Secretary Miguel Cardona here.
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Read More: SAVE Plan Fact Sheet
