The Biden administration on Tuesday launched a new program to ease the burden of federal student loan debt for millions of borrowers struggling to pay down their student loans while balancing other financial priorities.
The Education Department is now accepting applications for an income-driven repayment (IDR) plan that it’s calling the Saving on a Valuable Education program, or SAVE, which the administration projects will save the typical borrower more than $1,000 a year.
“Starting…
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