As the resumption of student loan payments starts, many borrowers are seeking ways how they could save. Fortunately, there is a new affordable repayment plan that can help millions of borrowers.
Resumption of Student Loan Payments; Borrowers could save up with a new plan (Photo: Plansponsor)
Resumption of Student Loan Payments
According to NYTimes, the resumption of student loan payments starts this month and it could strain the bank accounts of millions of borrowers.
Many student loan borrowers are seeking ways to save up with the resumption of student loan payments starting. However, borrowers do not know where to start looking.
With the resumption of student loan payments, how could the borrowers start to save up and make ends meet?
READ ALSO: 2023 Taxation Of Social Security Benefits: Why Are Social Security Benefits Being Taxed At All?
Resumption of Student Loan Payments: New Federal Repayment Plan Has Reduction in Monthly Student Loan Payments
Kenbridge Victoria Dispatch reports that as the resumption of student loan payments starts, President Joe Biden plans to wipe at least $20,000 in student loan debt with the new repayment plan called SAVE (Saving on a Valuable Education) in which struggling borrowers receive a reduction on their monthly student loan payments.
With this new plan for the resumption of student loan payments, millions of borrowers may still be able to save up and make ends meet. Moreover, the U.S. Department of Education stated that the amount of the debt is not a factor in this new plan so everyone could apply.
