Student loan repayment programs accepting enrollment
Two student loan repayment programs have been reopened following legal wrangling on loan forgiveness.
The two programs, known as ‘Pay as you earn’ and ‘income contingent repayment’ are now accepting enrollment again.
The plans were halted when the Biden Administration tried to phase them out to get borrowers to sign up for the ‘Saving on a Valuable Education’ program or ‘SAVE.’
The SAVE plan would have given credits for public service and income-driven payments, effectively wiping out some debt after set periods of having made payments.
A federal court issued an injunction against the SAVE plan last summer.
The SAVE plan is still tied up in court and the Biden Administration says it has authority to cut payments for high debt holders.
