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New Student Loan Debt Plan Will Speed up Forgiveness for Some Borrowers: Who Qualifies

Posted on AllSides January 12th, 2024
From The Center

If you borrowed less than $12,000 in federal student loans and have been in repayment for at least 10 years, you could have your remaining debt wiped out as soon as next month. The Department of Education will begin canceling student loan debt for some borrowers enrolled in the Biden administration's Saving on a Valuable Education (SAVE) plan starting in February, almost four years after then-presidential candidate Joe Biden proposed a plan for broad student loan forgiveness. SAVE is the newest of four income-driven repayment (IDR) plans available to federal...

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