Federal Student Loans
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November 8, 2023
The Biden-Harris Administration released data today showing that nearly 5.5 million borrowers are now enrolled in the Saving on a Valuable Education (SAVE) Plan, including 2.9 million who have $0 payments. All other borrowers enrolled in SAVE are saving an estimated $102 a month ($1,224 a year) compared to what they would have paid on the Revised Pay As You Earn (REPAYE) plan.
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August 26, 2021
Today, the U.S. Department of Education announced it will make $1.1 billion in closed school discharges available to an additional 115,000 borrowers who attended the now-defunct ITT Technical Institute (ITT). This decision is based on a new review of the problems leading up to ITT's closure. These borrowers did not complete their degree or credential and left ITT on or after March 31, 2008.
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August 19, 2021
Over 323,000 borrowers who have a total and permanent disability (TPD) will receive more than $5.8 billion in automatic student loan discharges due to a new regulation announced today by the U.S. Department of Education. The change will apply to borrowers who are identified through an existing data match with the Social Security Administration (SSA).