The president’s SAVE plan is expected to go into effect July 1, 2024, and would cut monthly income-based student loan payments in half, eliminate monthly payments for minimum-wage earners and forgive all outstanding debt after 10 years of payments for student borrowers who took $12,000 or less
Biden student loan bailout plan to cost $475B over next decade, roughly $45B more than rejected plan: study
President Biden’s new income-driven repayment plan for student loans will cost $475 billion over 10 years, according to the Penn Wharton Budget Model, tens of billions of dollars more than an earli…
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