The Biden administration is offering relief to approximately 3 million borrowers enrolled in the income-driven repayment program known as SAVE, following federal court rulings that blocked key elements of the student loan repayment plan.
The payment pause for eligible borrowers is similar to the COVID-19 student loan relief that lasted from March 2020 through September 2023. Borrowers who qualify for the pause will be notified directly in the coming days.
The blocked segment of the SAVE plan, which would have reduced monthly payments for borrowers with undergraduate loans, has been put on hold. A separate ruling halted the debt discharge provisions of the program while litigation continues.
Despite the setbacks, the federal government remains committed to pushing for student loan forgiveness and making college more affordable for Americans. The Education Department will continue to defend the SAVE Plan and fight for relief for borrowers.
Over 400,000 borrowers have already had their federal student loan debts erased under SAVE, and the injunctions will not affect any forgiveness that has already been granted. Please rephrase this sentence.
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