More Student Loan Forgiveness Plans Announced as Borrowers Prepare for Payments to Resume

"Weeks after the U.S. Supreme Court dealt a harsh blow for student loan borrowers hoping to take advantage of President Joe Biden’s forgiveness plan, his administration has clapped back with two paths forward toward wiping away student debt," NBC Chicago reports. 

... "Jill Desjean, a Senior Policy Analyst with the National Association of Student Financial Aid Administrators (NASFAA), says the SAVE plan is not a new plan, rather a rebrand of an already existing repayment plan with much more favorable terms for borrowers."

"'It’s much more generous now than all of the existing income driven repayment plans for borrowers,' Desjean said."

"However, with these announcements, borrowers are fearful these plans will also be struck down in court. Desjean said it’s hard to say if the administration has firm legal footing."

"'They've argued that the new SAVE plan is no different from their authority to create repayment plans,' Desjean said. 'It's just more generous.'"

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.


Publication Date: 7/17/2023

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