US EditionAs student loan interest restarts for SAVE plan borrowers, some are feeling ‘crushed’
UNITED STATES, JUL 31 – Interest on loans for nearly 8 million borrowers in the Saving on a Valuable Education plan resumes after a pause, affecting those with low incomes, officials said.
- The Biden-era SAVE student loan plan resumed applying interest earlier this month, affecting nearly 8 million borrowers facing increased balances.
- Amid court-ordered expiration of the SAVE plan, the Department of Education announced earlier this month that interest would resume on August 1, after courts blocked key parts last year.
- Data from the Student Borrower Protection Center indicates a $300 increase per month for typical SAVE borrowers as nearly 8 million start accruing interest on August 1.
- Faced with rising balances, borrowers like Bronte Remsik and her husband are postponing major milestones, with 71% reporting delays, according to the Gallup-Lumina Foundation’s report.
- Amid interest resumption, the Repayment Assistance Plan launches in 2026 with $10 payments for earners under $10,000 and $150 for those with $45,000 AGI.
Insights by Ground AI
Does this summary seem wrong?
49 Articles
49 Articles
Millions of Americans forced to repay loans as August deadline creeps up fast
MILLIONS of Americans have to start repaying loans that could feature cost hikes worth hundreds. The direct payment requirement comes as part of a deadline this month for an interest pause. GETTYAt least $300 could be added to loan repayments for some Americans (stock image)[/caption] Those who have student loans and signed up for a certain repayment plan that was available during Joe Biden’s former presidency are set to be affected, per CBS Mon…
·New York, United States
Read Full Article
Coverage Details
Total News Sources49
Leaning Left7Leaning Right2Center36Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
L 16%
C 80%
Factuality
To view factuality data please Upgrade to Premium
