Millions of student loan borrowers who thought they wouldn’t have to pay back their student loans under former President Joe Biden’s loan forgiveness plan found out March 27 they will have to start making payments on the money they borrowed.
The U.S. Department of Education began notifying 7.5 million borrowers on March 27 who enrolled in Biden’s “Saving on a Valuable Education” (SAVE) plan that they must exit the plan and enter a new federal repayment plan.
“Today’s guidance, which every borrower enrolled in the defunct SAVE plan will receive over the next week, puts the Biden Administration’s illegal student loan bailout agenda to rest once and for all,” said Under Secretary of Education Nicholas Kent. “For years, borrowers have been caught in a confusing cycle of uncertainty, but the Trump administration’s policy is simple: if you take out a loan, you must pay it back.”…
US Education Department Notifies Student Loan Borrowers of Repayment Plans
