Biden Administration Launches Website For New Repayment Option

The Saving on a Valuable Education, or  'SAVE' plan, was finalized after the Supreme Court blocked President Biden's student debt forgiveness initiative in June.

The Biden administration is launching it’s beta website for its new income-driven student loan repayment plan.

The Saving on a Valuable Education, or  ‘SAVE’ plan, was finalized after the Supreme Court blocked President Biden’s student debt forgiveness initiative in June. It marks a key change to the federal student loan system that could lower monthly loan payments for some borrowers and reduce the amount they pay back over the lifetime of their loans.

The website will allow borrowers to begin submitting applications for the program as student loan payments are set to resume in October.

To learn more on how you can access the beta website and begin your enrollment process, visit StudentAid.