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Rollout of Biden’s new student loan repayment plan hits early snags

Summary by Ground News
Administrative errors have produced inaccurate payment amounts. The issue is especially frustrating for people enrolled in a much-touted new repayment plan. More than 4 million people have enrolled in the Saving on a Valuable Education plan. The Education Department estimates that 420,000 borrowers have been affected.

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Portland Press HeraldPortland Press Herald
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Rollout of Biden’s new student loan repayment plan hits early snags

The Education Department says it immediately directed servicers to notify affected borrowers and put them into administrative forbearance until they were able to calculate the correct payment amount.

·Portland, United States
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Portland Press Herald broke the news in Portland, United States on Saturday, October 7, 2023.
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